Matthew Garabedian's Garabedian Realty Group Acquires Multifamily Property In Barnegat Light
SOLD
$1,175,000
New Jersey
See Similar DealsMultiFamily2,544 SF
Sold 03/17/2021
SOLD
Matthew Garabedian's Garabedian Realty Group Acquires Multifamily Property In Barnegat Light
17 E 14th St, Barnegat Light, NJ, USA
See Similar DealsMultiFamily2,544 SF
Sold 03/17/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$461
Total Square Footage:2,544 SF
Transaction Type:Sale
Located in Barnegat Light, the multifamily property at 17 E 14th St was recently sold for $1,175,000. This property spans across 2,544 square feet, resulting in a price per square foot of $462. With a total of 2 units, each unit was sold at an average price of $587,500.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,175,000
- Address: 17 E 14th St
- Market: Barnegat Light
Matthew Garabedian from Garabedian Realty Group, LLC represented the buyer in this deal, while Gina Laird from RE/MAX at Barnegat Bay - Ship Bottom was the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$62,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,174.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,570.10
Annual Debt Service$66,841.19
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