C21/ Solid Gold Realty Acquires Multifamily Property In Ortley Beach For $4.15M
SOLD
$4,150,000
New Jersey
See Similar DealsMultiFamily3 SF
Sold 02/13/2023
SOLD
C21/ Solid Gold Realty Acquires Multifamily Property In Ortley Beach For $4.15M
1728 Ocean Ave, Ortley Beach, NJ 08751
See Similar DealsMultiFamily3 SF
Sold 02/13/2023
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$1,383,333
Total Square Footage:3 SF
Transaction Type:Sale
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
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$221,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,744.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,673.12
Annual Debt Service$236,077.41
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