Jersey Cape Realty Acquires Multifamily Property In Cape May For $1.24M
SOLD
$1,240,000
New Jersey
See Similar DealsMultiFamily7,500 SF
Sold 01/29/2021
SOLD
Jersey Cape Realty Acquires Multifamily Property In Cape May For $1.24M
219 North Street, Cape May, NJ, USA
See Similar DealsMultiFamily7,500 SF
Sold 01/29/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$165
Total Square Footage:7,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$66,133.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,405.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,878.23
Annual Debt Service$70,538.79
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