Updated Feb 16, 2024
Berkshire Hathaway Home Services Acquires 4-Unit Multifamily Property In Red Bank For $1.56M
222 Bridge Avenue, Red Bank, New Jersey 07701, United States
$1,560,000
Units
4
Asset Type
MultiFamily
Closing
May 4, 2022
About this deal
AI
The multifamily property located at 222-228 S Bridge Ave in Red Bank was recently sold for $1,560,000. The property consists of four units, with each unit priced at $390,000. This sale was facilitated by Lauren Orsini of Berkshire Hathaway Home Services New Jersey Properties.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,560,000
- Units: 4
- Price per unit: $390,000
- Location: 222-228 S Bridge Ave, Red Bank
- Market: Red Bank
Lauren Orsini from Berkshire Hathaway Home Services New Jersey Properties played a key role as the broker representing the parties involved in this transaction.
Red Bank MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $390K per unit across 4 units on a published $1.6M (2022).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.17%
Cash-on-Cash
-2.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93