Updated Sep 9, 2024
Diane Turton, Realtors-Avon Represents Buyer In $1.5M Sale Of Multifamily Property In Belmar
205 Fourth Avenue, Belmar, New Jersey 07719, United States
$1,500,000
Units
5
Asset Type
MultiFamily
Closing
Mar 29, 2022
About this deal
AI
The multifamily property located at 205 4th Ave in Belmar has been sold for $1,500,000. The sale was facilitated by Kelly Cutillo from Diane Turton, Realtors-Avon, representing the buyer, and Linda Courey-Degnan from Keller Williams Realty Spring Lake, representing the seller. This property consists of 5 units, with an average price per unit of $300,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,500,000
- Address: 205 4th Ave, Belmar
- Market: Belmar
- Buyer's Rep: Kelly Cutillo - Diane Turton, Realtors-Avon
- Seller's Rep: Linda Courey-Degnan - Keller Williams Realty Spring Lake
- Units: 5
- Price Per Unit: $300,000
Kelly Cutillo from Diane Turton, Realtors-Avon, and Linda Courey-Degnan from Keller Williams Realty Spring Lake were instrumental in the successful completion of this transaction.
Players
Belmar 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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93