Nathaniel Colmer Acquires Multifamily Property In Harvey Cedars For $2.56M
SOLD
$2,555,000
New Jersey
See Similar DealsMultiFamily2,993 SF
Sold 07/06/2022
SOLD
Nathaniel Colmer Acquires Multifamily Property In Harvey Cedars For $2.56M
23 West 83rd Street, Harvey Cedars, New Jersey 08008, United States
See Similar DealsMultiFamily2,993 SF
Sold 07/06/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$853
Total Square Footage:2,993 SF
Transaction Type:Sale
Located at 23 W 83rd St in Harvey Cedars, this multifamily property was recently sold for a price of $2,555,000. The property consists of 4 units, with each unit having a price per unit (PPU) of $638,750. The total square footage of the property is 2,993, resulting in a price per square foot (PPSF) of $854.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,555,000
- Units: 4
- Price Per Unit (PPU): $638,750
- Square Footage: 2,993
- Price Per Square Foot (PPSF): $854
Nathaniel Colmer from The Van Dyk Group represented the buyer in this transaction, while Gina Laird from RE/MAX represented the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$136,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,077.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,112.00
Annual Debt Service$145,344.04
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