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Multifamily Property In Long Branch Sold For $3.15M With Brokers From ReMax
SOLD
$3,150,000
New Jersey
See Similar DealsMultiFamily
Sold 10/11/2023
SOLD
Multifamily Property In Long Branch Sold For $3.15M With Brokers From ReMax
247 Cedar Avenue
See Similar DealsMultiFamily
Sold 10/11/2023
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 247 Cedar Avenue in Long Branch was sold for a sale price of $3,150,000. The property is a part of the Multifamily asset type.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,150,000
- Address: 247 Cedar Avenue
- Market: Long Branch
The brokers involved in the transaction were Todd Katz from Remax and Chris Katz from RE/MAX Synergy.
The sale of the multifamily property at 247 Cedar Avenue in Long Branch was facilitated by Todd Katz from Remax and Chris Katz from RE/MAX Synergy.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$168,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,191.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,932.61
Annual Debt Service$179,191.28
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