Soo Jin Jung & David W. Kwon Sale Palisades Park Multifamily
SOLD
$1,175,000
New Jersey
See Similar DealsMultiFamily4,040 SF
Sold 03/18/2021
SOLD
Soo Jin Jung & David W. Kwon Sale Palisades Park Multifamily
232 6th St, Palisades Park, NJ, USA
See Similar DealsMultiFamily4,040 SF
Sold 03/18/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$290
Total Square Footage:4,040 SF
Transaction Type:Sale
An multifamily property located at 232 6th St in Palisades Park has been sold for $1,175,000. The property consists of 2 units, with a price per unit of $587,500. The transaction took place on 03/18/2021 and was represented by Soo Jin Jung from Coldwell Banker, Jersey City as the buyer's representative, and David W. Kwon from Group Twenty Six, LLC as the seller's representative.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,175,000
- Units: 2
- Price Per Unit: $587,500
- Market: Palisades Park
- Date: 03/18/2021
Soo Jin Jung from Coldwell Banker, Jersey City represented the buyer in the transaction, while David W. Kwon from Group Twenty Six, LLC represented the seller. This sale represents a successful transaction in the Palisades Park market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$62,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,174.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,570.10
Annual Debt Service$66,841.19
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