Updated Dec 20, 2023
Jersey Cape Realty Acquires Multifamily Property In Cape May For $1.24M
219 North Street, Cape May, NJ, USA
$1,240,000
$165/SF
Building Size
7,500 SF
Asset Type
MultiFamily
Closing
Jan 28, 2021
About this deal
AI
A multifamily property located at 219 North St in Cape May was recently sold for $1,240,000. The property consists of 4 units, with a price per unit of $310,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,240,000
- Address: 219 North St
- Market: Cape May
- Units: 4
- Price per Unit: $310,000
The buyer was represented by James Zeitler from Jersey Cape Realty, while Ryan Griffin from deSatnick Real Estate LLC - Cape May acted as the seller's representative.
Players
Ocean City 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
12.79%
Cash-on-Cash
-3.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93