Updated Dec 4, 2024
Prominent Properties Sotheby's International Realty Acquires Montclair Multifamily For $4.85M
191 Bellevue Avenue
$4,850,000
$306/SF
Building Size
15,852 SF
Asset Type
MultiFamily
Closing
Dec 1, 2023
About this deal
AI
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
Montclair MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.27%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93