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Armagno Agency Inc Acquires Multifamily Property In Jersey City For $1.25M

Property Image
SOLD
$1,250,000
Oksana Yaremchuk
Philip (Phil) Rivo

New Jersey

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MultiFamily1,200 SF
Sold 03/25/2021
the dealplayerscompscontact
Property Image
SOLD

Armagno Agency Inc Acquires Multifamily Property In Jersey City For $1.25M

255 West 5th Street, Plainfield, NJ 07060, USA

See Similar Deals
MultiFamily1,200 SF
Sold 03/25/2021
Oksana Yaremchuk
Philip (Phil) Rivo
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$1,041
Total Square Footage:1,200 SF
Transaction Type:Sale

The multifamily property located at 255 5th St in Jersey City has been sold. The sale was facilitated by brokers Philip Rivo and Oksana Yaremchuk from Armagno Agency Inc. The transaction took place on March 25, 2021, with a selling price of $1,250,000. The property consists of two units, resulting in a price per unit of $625,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,250,000
  • Address: 255 5th St, Jersey City
  • Market: Jersey City
  • Brokers: Philip Rivo & Oksana Yaremchuk - Armagno Agency Inc
  • Units: 2
  • Price per Unit: $625,000

This sale represents a successful transaction in the multifamily market in Jersey City. Philip Rivo and Oksana Yaremchuk, representing Armagno Agency Inc, played a crucial role in facilitating the deal. The sale price of $1,250,000 reflects the value and potential of the property. With a total of two units, each priced at $625,000, this transaction demonstrates the demand for multifamily properties in Jersey City.

Players

Philip (Phil) Rivo
Armagno Agency
Philip Rivo
3 deals$4M volume
BROKER
Oksana Yaremchuk
Armagno Agency
Oksana Yaremchuk
1 deal$1.3M volume
BROKER

Details

SOLD
IMAGE: Philip Rivo & Oksana Yaremchuk DATE: 03/25/2021 ADDRESS: 255 5TH St MARKET: Jersey City ASSET TYPE: Multifamily BROKERS: Philip Rivo & Oksana Yaremchuk - Armagno Agency Inc PRICE: $1,250,000 UNITS: 2 ~ PPU: 625,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$66,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,440.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,925.64
Annual Debt Service$71,107.65