Keyport Village Apartments DE, LLC Sells 132-Unit Multifamily Property In Keyport For $29M
SOLD
$29,000,000
New Jersey
See Similar DealsMultiFamily
Sold 06/06/2022
SOLD
Keyport Village Apartments DE, LLC Sells 132-Unit Multifamily Property In Keyport For $29M
251 Atlantic Street, Keyport, New Jersey 07735, United States
See Similar DealsMultiFamily
Sold 06/06/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
Keyport Village Apartments DE, LLC has sold a multifamily property located at 251 Atlantic Street in Keyport. The property consists of 132 units and was sold for a total of $29,000,000, resulting in a per unit price of approximately $219,697. The transaction took place on June 6, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $29,000,000
- Number of Units: 132
- Price per Unit: $219,697
The sale of 251 Atlantic Street in Keyport was facilitated by Joni Sweetwood, Robert Holland, and Barry Waisbrod from The Kislak Company. They represented the seller, Keyport Village Apartments DE, LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$103,030.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$137,474.80
Annual Debt Service$1,649,697.54
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