Updated Sep 9, 2024
Jamie Moreng Of EXP Realty Sells MultiFamily Property On Lexington Avenue In Jersey City For $1.6M
170 Lexington Ave, Jersey City, NJ 07304
$1,600,000
$640/SF
Building Size
2,500 SF
Asset Type
MultiFamily
Closing
Aug 24, 2023
About this deal
AI
A multi-family property located at 170 Lexington Avenue in Jersey City has been sold for a total price of $1,600,000. The property consists of 2 units with a total of 2,500 square feet. Each unit was sold at an average price of $800,000 per unit. The property is situated in the market of Jersey City.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $1,600,000
- Address: 170 Lexington Avenue
- Market: Jersey City
- Units: 2
- Price per Unit: $800,000
- Square Footage: 2,500
- Asking Price: $1,599,000
The buyer and seller's representative in this transaction was Jamie Moreng from EXP Realty. Jamie Moreng is a well-known broker in the Jersey City/Hoboken market. For maximum profit in property sales, you can reach out to Jamie Moreng at @movewithmoreng.
Players
Market 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
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93