Kislak Acquires Multifamily Property In Jersey City For $2.55M
SOLD
$2,550,000
New Jersey
See Similar DealsMultiFamily
Sold 09/13/2023
SOLD
Kislak Acquires Multifamily Property In Jersey City For $2.55M
272 Hoboken Avenue
See Similar DealsMultiFamily
Sold 09/13/2023
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 272 Hoboken Avenue in Jersey City has been sold in a recent transaction. The property consists of 13 units and was sold for a total price of $2,550,000, which equates to an average price per unit of $196,154.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,550,000
- Units: 13
- Price Per Unit: $196,154
The sale of this multifamily property was facilitated by the brokers Don Baxter and Michael Salomon from Kislak. They played a key role in overseeing the transaction and ensuring a successful outcome.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$136,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,059.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,088.30
Annual Debt Service$145,059.61
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