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1400 Wesley Avenue, Ocean C...

Updated Sep 9, 2024

Monihan Realty Acquires Multifamily Property In Ocean City, NJ For $1.15M
SOLDMultiFamily

Monihan Realty Acquires Multifamily Property In Ocean City, NJ For $1.15M

1400 Wesley Avenue, Ocean City, NJ, USA

$1,150,000

$338/SF

Building Size

3,400 SF

Asset Type

MultiFamily

Closing

Apr 29, 2021

About this deal

AI

The multifamily property located at 1400 Wesley Avenue in Ocean City, NJ was recently sold on April 30, 2021. The property spans 3,400 square feet and was sold for a price of $1,150,000, resulting in a price per square foot of $338.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,150,000
  • Market: Ocean City, NJ
  • Address: 1400 Wesley Avenue

The sale transaction was facilitated by James (Gray) Haenn, Donna Brown, and Christopher Monihan from Monihan Realty. They represented the parties involved in the deal.

Players

Christopher Monihan

Monihan Realty

Broker

$18.4M

vol

5 deals

Broker

Ocean City MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $338 per square foot on a published $1.2M for 3,400 square feet (2021).

Visit James (Gray) Haenn to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

13.79%

Cash-on-Cash

-3.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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