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Prominent Properties Sotheby's International Realty Acquires Montclair Multifamily For $4.85M

Property Image
SOLD
$4,850,000
Sibel Oz
Christine (Chris) Lane

New Jersey

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MultiFamily15,852 SF
Sold 12/01/2023
the dealplayerscompscontact
Property Image
SOLD

Prominent Properties Sotheby's International Realty Acquires Montclair Multifamily For $4.85M

191 Bellevue Avenue

See Similar Deals
MultiFamily15,852 SF
Sold 12/01/2023
Sibel Oz
Christine (Chris) Lane
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$306
Total Square Footage:15,852 SF
Transaction Type:Sale

A multifamily property located at 191 Bellevue Avenue in Montclair was transacted, with a sale price of $4,850,000. The property consists of 21 units with an average price per unit of $230,952. The total square footage of the property is 15,852, resulting in a price per square foot of $306.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,850,000
  • Units: 21
  • Price per Unit: $230,952
  • Square Footage: 15,852
  • Price per Square Foot: $306
  • Address: 191 Bellevue Avenue, Montclair
  • Market: Montclair

The buyer in this transaction was represented by Sibel Oz of Prominent Properties Sotheby's International Realty, while the seller was represented by Christine Lane of Compass.

Note: Sibel Oz of Prominent Properties Sotheby's International Realty represented the buyer in this transaction, and Christine Lane of Compass represented the seller.

Players

Sibel Oz
Sotheby's International Realty
Sibel Oz
4 deals$8.9M volume
BROKER
Christine (Chris) Lane
Compass
Christine Lane
1 deal$4.9M volume(973) 202-1707
BROKER

Details

SOLD
IMAGE: Sibel Oz & Christine Lane DATE: 12/01/2023 ADDRESS: 191 Bellevue Avenue MARKET: Montclair ASSET TYPE: Multifamily BUYER'S REP: Sibel Oz - Prominent Properties Sotheby's International Realty (@PromPropSIR) SELLER'S REP: Christine Lane (@ChrisLanesellsnj) - Compass (@Compass) SALE PRICE: $4,850,000 UNITS: 21 ~ PPU: $230,952 SF: 15,852 ~ PPSF: $306 NOTE: A multifamily property located at 191 Bellevue Avenue in Montclair was transacted, with Sibel Oz of Prominent Properties Sotheby's International Realty representing the buyer and Christine Lane of Compass representing the seller.

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

$258,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,231.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,991.47
Annual Debt Service$275,897.69