Compass Brokers Acquire Multifamily Property On 240 Grove St In Jersey City For $1.6M
SOLD
$1,632,660
New Jersey
See Similar DealsMultiFamily1,482 SF
Sold 10/25/2021
SOLD
Compass Brokers Acquire Multifamily Property On 240 Grove St In Jersey City For $1.6M
240 Grove Street, Jersey City, NJ 07302
See Similar DealsMultiFamily1,482 SF
Sold 10/25/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$1,101
Total Square Footage:1,482 SF
Transaction Type:Sale
240 Grove St, a multifamily property located in Jersey City, was recently sold on October 25, 2021, for a total price of $1,632,660. The property consists of 4 units, resulting in a price per unit of $408,165. The sale was facilitated by the brokers Irina Barnaby & Kristin Ehrgott from Compass.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,632,660
- Units: 4
- Price per Unit: $408,165
- Broker: Irina Barnaby & Kristin Ehrgott - Compass
Irina Barnaby & Kristin Ehrgott from Compass played a pivotal role in the successful sale of 240 Grove St. Their expertise and guidance ensured a smooth transaction for the buyer and seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$87,075.19
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,800.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,739.64
Annual Debt Service$92,875.70
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