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Stacy-Ann Tinglin Acquires Multifamily Property In Newark City For $9.2M

Property Image
SOLD
$9,200,000
Stacy-Ann Tinglin
Juan Carlos "J.C." Gonzalez
Fernando Peralta

New Jersey

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MultiFamily
Sold 06/01/2022
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Property Image
SOLD

Stacy-Ann Tinglin Acquires Multifamily Property In Newark City For $9.2M

26-28 Davenport Avenue, Newark, New Jersey 07107, United States

See Similar Deals
MultiFamily
Sold 06/01/2022
Stacy-Ann Tinglin
Juan Carlos "J.C." Gonzalez
Fernando Peralta
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

The property involved in this transaction is a multifamily asset located at 26-28 Davenport Ave in Newark City. The sale took place on 06/01/2022, and the property was sold for a total price of $9,200,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $9,200,000
  • Address: 26-28 Davenport Ave
  • Market: Newark City

Stacy-Ann Tinglin, a representative from RE/MAX First Realty II, assisted the buyer in this transaction. J.C. Gonzalez from BHGRE Elite and Fernando Peralta represented the seller. These individuals played key roles in negotiating and finalizing the deal.

Players

Stacy-Ann Tinglin
Re/Max
Stacy-Ann Tinglin
1 deal$9.2M volume
BROKER
Juan Carlos "J.C." Gonzalez
Better Homes and Gardens Real Estate
Juan Carlos Gonzalez
1 deal$9.2M volume
BROKER
Fernando Peralta
Better Homes and Gardens Real Estate
Fernando Peralta
1 deal$9.2M volume
BROKER

Details

SOLD
IMAGE: Stacy-Ann Tinglin DATE: 06/01/2022 ADDRESS: 26-28 Davenport Ave MARKET: Newark City ASSET TYPE: Multifamily BUYER'S REP: Stacy-Ann Tinglin (@StacySellsNJ) - RE/MAX First Realty II (@RemaxFirstNJ) SELLER'S REP: J.C. Gonzalez - BHGRE Elite; Fernando Peralta SALE PRICE: $9,200,000

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$32,685.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,612.69
Annual Debt Service$523,352.32