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Shin Chung Of Re/Max Fortune Properties Brokers Sale Of Multifamily Duplex In Fort Lee For $1.56M
SOLD
$1,562,500
New Jersey
See Similar DealsMultiFamily
Sold 07/29/2024
SOLD
Shin Chung Of Re/Max Fortune Properties Brokers Sale Of Multifamily Duplex In Fort Lee For $1.56M
2484 6th Street
See Similar DealsMultiFamily
Sold 07/29/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
2484 6th Street is a two-family duplex located in Fort Lee. The asset was sold for $1,562,500, resulting in a price per unit of $781,250.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,562,500
- Units: 2
- Price per Unit: $781,250
- Date of Sale: 07/29/2024
- Broker: Shin Chung
- Agency: Re/Max Fortune Properties
- Market: Fort Lee
Shin Chung of RE/MAX Fortune Properties facilitated the transaction, emphasizing the property's prime location and its investment potential near Englewood Cliffs.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$83,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,551.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,407.05
Annual Debt Service$88,884.57
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