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Princeton Multifamily Property Sold For $1.218M With Broker Representation By BHHS Fox & Roach And Realmart Realty

Property Image
SOLD
$1,218,000

New Jersey

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MultiFamily2,497 SF
Sold 08/12/2024
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Property Image
SOLD

Princeton Multifamily Property Sold For $1.218M With Broker Representation By BHHS Fox & Roach And Realmart Realty

182-184 John Street

See Similar Deals
MultiFamily2,497 SF
Sold 08/12/2024
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$487
Total Square Footage:2,497 SF
Transaction Type:Sale

A multifamily property located at 182-184 John Street in Princeton sold for $1.218 million. The property encompasses a total of 2,497 square feet, with a price per square foot of $488. It features approved renovation plans for a four-bedroom and a three-bedroom apartment, along with additional off-street parking, presenting substantial investment potential in proximity to the town and university.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,218,000
  • Square Footage: 2,497
  • Price Per Square Foot: $488
  • Address: 182-184 John Street
  • Market: Princeton

The transaction involved brokers John Terebey and Sunny Sharad from BHHS Fox & Roach, along with Min Tang from Realmart Realty, representing the parties in the deal.

Players

John Terebey
2 deals$3.7M volume(609) 203-0640
BROKER

Suneel (Sunny) Sharad
Berkshire Hathaway HomeServices
1 deal$1.2M volume(732) 822-7909
BROKER

Min Tang
Realmart Realty
1 deal$1.2M volume(732) 727-2285
BROKER

Details

SOLD
IMAGE: John Terebey, Sunny Sharad & Min Tang DATE: 08/12/2024 ADDRESS: 182-184 John Street MARKET: Princeton ASSET TYPE: Multifamily BROKERS: John Terebey (@JohnTerebey) & Sunny Sharad (@SunnySharadRealtor) - BHHS Fox & Roach (@BHHS_FoxRoach); Min Tang - Realmart Realty SALE PRICE: $1,218,000 SF: 2,497 ~ PPSF: $488 NOTE: A multifamily property at 182-184 John Street in Princeton sold for $1.218 million. The property includes approved renovation plans for a four-bedroom and a three-bedroom apartment, along with additional off-street parking, offering significant investment potential near the town and university.

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

$64,960.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,327.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,773.94
Annual Debt Service$69,287.30