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1728 Ocean Ave, Ortley Beac...

C21/ Solid Gold Realty Acquires Multifamily Property In Ortley Beach For $4.15M
SOLDMultiFamily

C21/ Solid Gold Realty Acquires Multifamily Property In Ortley Beach For $4.15M

1728 Ocean Ave, Ortley Beach, NJ 08751

$4,150,000

$1,383,333/SF

Building Size

3 SF

Asset Type

MultiFamily

Closing

Feb 13, 2023

AI

The multifamily property located at 1728 Ocean Ave in Ortley Beach has been sold for a total of $4,150,000. The property spans 3,644 square feet, resulting in a price per square foot of $1,139. The transaction took place on February 13, 2023.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,150,000
  • Square Footage: 3,644
  • Price Per Square Foot: $1,139
  • Address: 1728 Ocean Ave
  • Market: Ortley Beach

The buyer, represented by Michael Poole of C21/ Solid Gold Realty, and the seller, represented by John Bendall of RE/MAX Classic Group, were the key individuals involved in this transaction.

Players

Michael Poole

Century 21

Broker

$6.6M

vol

2 deals

Broker

Seaside Heights 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

3.82%

Cash-on-Cash

-1.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93