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Alexander Anderson Real Estate Group Acquires Ridgefield Park Multifamily For $1.125M

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SOLD
$1,125,000

New Jersey

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MultiFamily
Sold 09/11/2023
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Property Image
SOLD

Alexander Anderson Real Estate Group Acquires Ridgefield Park Multifamily For $1.125M

181-183 Bergen Tpke

See Similar Deals
MultiFamily
Sold 09/11/2023
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 181-183 Bergen Turnpike in Ridgefield Park has been sold for a total price of $1,125,000. The property consists of four units, with a price per unit of $281,250. Adam Sperber of Alexander Anderson Real Estate Group represented the buyer, while Alberto Wells of Lifestyle International Realty represented the seller in this transaction.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,125,000
  • Address: 181-183 Bergen Turnpike, Ridgefield Park
  • Market: Ridgefield Park
  • Units: 4
  • Price Per Unit: $281,250
  • Buyer's Representative: Adam Sperber - Alexander Anderson Real Estate Group
  • Seller's Representative: Alberto Wells - Lifestyle International Realty

This deal was facilitated by Adam Sperber from Alexander Anderson Real Estate Group, who represented the buyer in this transaction. Alberto Wells, on the other hand, acted as the seller's representative and was involved in the sale of this multifamily property. The transaction demonstrates the expertise and professionalism of both brokerage firms in successfully closing this deal.

Players

Adam Sperber
1 deal$1.1M volume(201) 410-8680
BROKER

Alberto Wells
Lifestyle International Realty
1 deal$1.1M volume(973) 315-5242
BROKER

Details

SOLD
IMAGE: Adam Sperber DATE: 09/11/2023 ADDRESS: 181-183 Bergen Tpke MARKET: Ridgefield Park ASSET TYPE: Multifamily BUYER'S REP: Adam Sperber (@adamsellsnj) - Alexander Anderson Real Estate Group (@realestatenjny) SELLER'S REP: Alberto Wells - Lifestyle International Realty (@lifestyleinternationalrealtynj) SALE PRICE: $1,125,000 UNITS: 4 ~ PPU: $281,250 NOTE: A multifamily property located at 181-183 Bergen Turnpike in Ridgefield Park changed hands, with Adam Sperber of Alexander Anderson Real Estate Group representing the buyer and Alberto Wells of Lifestyle International Realty representing the seller.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$60,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,996.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,333.07
Annual Debt Service$63,996.89