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2458 5th Street

Craig Wilson & Sung Hee Lam Facilitate $1.2M Multifamily Sale In Fort Lee
SOLDMultiFamily

Craig Wilson & Sung Hee Lam Facilitate $1.2M Multifamily Sale In Fort Lee

2458 5th Street

$1,200,000

Building Size

Asset Type

MultiFamily

Closing

May 1, 2024

AI

A newer top/bottom 2-family house in Fort Lee, featuring modern interior design and amenities, sold for $1,200,000. Conveniently located near NYC bus stops, schools, and shops, the property boasts hardwood floors, recessed lighting, high ceilings, and a private deck with a fenced backyard, offering a sophisticated living experience in a prime location.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,200,000
  • Units: 2
  • Price Per Unit: $600,000
  • Address: 2458 5th Street, Fort Lee
  • Market: Fort Lee

Craig Wilson of HomeSmart First Advantage represented the buyer in the transaction, while Sung Hee Lam of Re/Max Fortune Properties represented the seller. Both parties played instrumental roles in facilitating the sale of the property, ensuring a successful transaction for all involved.

Players

Sung Hee Lam

Re/Max

Broker

$1.2M

vol

1 deal

Broker

Fort Lee MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

13.22%

Cash-on-Cash

-3.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93