Nova EO Portfolio I LLC & The Capital Foresight LP Sell East Orange Multifamily For $14.95M
SOLD
$14,950,000
New Jersey
See Similar DealsMultiFamily
Sold 06/08/2020
SOLD
Nova EO Portfolio I LLC & The Capital Foresight LP Sell East Orange Multifamily For $14.95M
17 Webster Place, East Orange, NJ, USA
See Similar DealsMultiFamily
Sold 06/08/2020
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 17 Webster Place, 75 & 151 North Walnut St in East Orange, NJ has been sold for a price of $14,950,000. The property consists of 113 units, with each unit having a price per unit (PPU) of $132,301. The sale was facilitated by David Oropeza of Gebroe-Hammer Associates.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,950,000
- Units: 113
- Price per Unit (PPU): $132,301
- Address: 17 Webster Place, 75 & 151 North Walnut St, East Orange, NJ
- Seller: Nova EO Portfolio I LLC & The Capital Foresight LP
David Oropeza of Gebroe-Hammer Associates represented the seller in this transaction. The sale marks a significant milestone in the East Orange, NJ market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$797,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,114.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$70,870.63
Annual Debt Service$850,447.53
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