Eileen Patterson & Brian Reed Facilitate $1.25M Multi-Family Sale In North Wildwood
1601 Ocean Ave, North Wildwood
$1,245,000
Building Size
—
Asset Type
MultiFamily
Closing
Mar 13, 2024
AI
A multi-family property located at 1601 Ocean Avenue in North Wildwood was recently sold at a transaction amount of $1,245,000. The deal was facilitated by Eileen Patterson of Coastal Elite Realty, representing the buyer, and Brian Reed of Long & Foster Real Estate, representing the seller.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,245,000
- Address: 1601 Ocean Avenue
- Market: North Wildwood
- Buyer's Rep: Eileen Patterson - Coastal Elite Realty
- Seller's Rep: Brian Reed - Long & Foster Real Estate
The sale of the multi-family property at 1601 Ocean Avenue in North Wildwood involved key individuals Eileen Patterson from Coastal Elite Realty and Brian Reed from Long & Foster Real Estate. Eileen Patterson represented the buyer while Brian Reed represented the seller, facilitating the successful transaction.
Players
Wildwood MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.74%
Cash-on-Cash
-3.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93