Avalon Multifamily Sells For $3.8M With Buyer's Rep Joseph Butler Jr. & Seller's Rep Jack Yao
2808 Ocean Drive, Avalon, New Jersey 08202, United States
$3,825,000
$1,241/SF
Building Size
3,080 SF
Asset Type
MultiFamily
Closing
Oct 19, 2022
AI
The multifamily property located at 2808 Ocean Dr in Avalon, NJ has been sold for a total of $3,825,000. The transaction took place on October 20, 2022. The property consists of two units with a total square footage of 3,080. The price per unit is $1,912,500, and the price per square foot is $1,242.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,825,000
- Units: 2
- Price Per Unit: $1,912,500
- Square Footage: 3,080
- Price Per Square Foot: $1,242
- Address: 2808 Ocean Dr, Avalon, NJ
- Market: Avalon, NJ
The buyer's representative in this transaction was Joseph Butler Jr. from A. Lewis Purdy Real Estate Inc, while the seller's representative was Qizhan "Jack" Yao from Realmart Realty.
Players
Avalon MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.15%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93