Keller Williams City Life JC Realty Acquires Multifamily Property In Jersey City, NJ For $1.35M
SOLD
$1,350,000
New Jersey
See Similar DealsMultiFamily600 SF
Sold 09/17/2021
SOLD
Keller Williams City Life JC Realty Acquires Multifamily Property In Jersey City, NJ For $1.35M
18 Mercer St, Jersey City, NJ, USA
See Similar DealsMultiFamily600 SF
Sold 09/17/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$2,250
Total Square Footage:600 SF
Transaction Type:Sale
A multifamily property located at 18 1/2 Mercer St in Jersey City, NJ has been sold for a price of $1,350,000. The sale took place on September 17, 2021. The property was listed by Sherif Fanous from RE/MAX Villa, Realtors, and the buyer was represented by Alexander Bush from Keller Williams City Life JC Realty.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,350,000
- Address: 18 1/2 Mercer St, Jersey City, NJ
- Market: Jersey City, NJ
The sale of this multifamily property marks an important transaction in the Jersey City real estate market. Sherif Fanous from RE/MAX Villa, Realtors, played a significant role as the seller's representative, while Alexander Bush from Keller Williams City Life JC Realty ensured a smooth buying process for the buyer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$72,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,796.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,399.69
Annual Debt Service$76,796.26
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