RE/MAX Fortune Properties Represents Buyer In $2.7M Multifamily Sale In Palisades Park, NJ
SOLD
$2,700,000
New Jersey
See Similar DealsMultiFamily
Sold 10/28/2022
SOLD
RE/MAX Fortune Properties Represents Buyer In $2.7M Multifamily Sale In Palisades Park, NJ
217 Glen Avenue, Palisades Park, New Jersey 07650, United States
See Similar DealsMultiFamily
Sold 10/28/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 217 Glen Ave in Palisades Park, NJ has been sold for a total of $2,700,000. The transaction took place on 10/28/2022. The property consists of 2 units, with a price per unit of $1,350,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,700,000
- Address: 217 Glen Ave
- Market: Palisades Park, NJ
- Units: 2
- Price per Unit: $1,350,000
The buyer was represented by Chung Hee Lee from RE/MAX Fortune Properties, while the seller was represented by Brian S. Kim from Proper Estates, Inc.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$144,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53
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