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Prominent Properties Sotheby's Acquires Jersey City Multifamily For $1.33M

Property Image
SOLD
$1,330,000
Kenneth (Ken) DeGrave
Mojgan Roya Bianchi

New Jersey

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MultiFamily
Sold 01/11/2024
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Property Image
SOLD

Prominent Properties Sotheby's Acquires Jersey City Multifamily For $1.33M

20 Magnolia Avenue

See Similar Deals
MultiFamily
Sold 01/11/2024
Kenneth (Ken) DeGrave
Mojgan Roya Bianchi
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

Prominent Properties Sotheby's International Realty, represented by Mojgan Roya Bianchi, closed the purchase of a Jersey City multifamily property at 20 Magnolia Avenue for $1,330,000, with Kenneth DeGrave of Compass as the seller's representative.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,330,000
  • Address: 20 Magnolia Avenue
  • Market: Jersey City

Additional information:

  • Buyer's Representative: Mojgan Roya Bianchi - Prominent Properties Sotheby's International Realty
  • Seller's Representative: Kenneth DeGrave - Compass

Players

Kenneth (Ken) DeGrave
Compass
Kenneth DeGrave
2 deals$2.3M volume(917) 846-2177
BROKER
Mojgan Roya Bianchi
Sotheby's International Realty
Mojgan Roya Bianchi
1 deal$1.3M volume(917) 348-8796
BROKER

Details

SOLD
IMAGE: Mojgan Roya Bianchi & Kenneth DeGrave DATE: 01/11/2024 ADDRESS: 20 Magnolia Avenue MARKET: Jersey City ASSET TYPE: Multifamily BUYER'S REP: Mojgan Roya Bianchi (@Roya_Bianchi_Real_Estate) - Prominent Properties Sotheby's International Realty (@PromPropSIR) SELLER'S REP: Kenneth DeGrave (@KenDeGrave.RealEstate) - Compass (@Compass) SALE PRICE: $1,330,000 NOTE: Prominent Properties Sotheby's International Realty, represented by Mojgan Roya Bianchi, closed the purchase of a Jersey City multifamily property at 20 Magnolia Avenue for $1,330,000, with Kenneth DeGrave of Compass as the seller's representative.

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

$70,933.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,725.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,304.88
Annual Debt Service$75,658.54