Prominent Properties Sothebys Acquires Multifamily In Jersey City For $1.16M
SOLD
$1,160,000
New Jersey
See Similar DealsMultiFamily1,875 SF
Sold 12/22/2021
SOLD
Prominent Properties Sothebys Acquires Multifamily In Jersey City For $1.16M
240.5 South St, Jersey City, NJ 07307
See Similar DealsMultiFamily1,875 SF
Sold 12/22/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$618
Total Square Footage:1,875 SF
Transaction Type:Sale
The multifamily property located at 240.5 South St in Jersey City has been sold for a price of $1,160,000. The property consists of 4 units, with a price per unit (PPU) of $290,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,160,000
- Address: 240.5 South St
- Market: Jersey City
The buyer was represented by Megha Moza from Prominent Properties Sothebys International Realty, while Robert Harris from CHRISTIE'S International Real Estate Northern New Jersey 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)
$61,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,121.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,498.99
Annual Debt Service$65,987.90
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