Hanut Singh & Reggie Singh Purchase Multifamily Property In Jersey City For $1.15M
SOLD
$1,150,000
New Jersey
See Similar DealsMultiFamily2,500 SF
Sold 06/21/2024
SOLD
Hanut Singh & Reggie Singh Purchase Multifamily Property In Jersey City For $1.15M
294 New York Avenue
See Similar DealsMultiFamily2,500 SF
Sold 06/21/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$460
Total Square Footage:2,500 SF
Transaction Type:Sale
The multifamily property located at 294 New York Avenue in Jersey City was recently sold for $1,150,000. The transaction involved a total of 3 units with a price per unit of $383,333. The property spans across 2,500 square feet, translating to a price per square foot of $460.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,150,000
- Address: 294 New York Avenue
- Market: Jersey City
- Units: 3
- SF: 2,500
- Buyer: Hanut Singh & Reggie Singh
- Seller: Segundo Tapia & Azucena Tapia
- Buyer's Rep: Franciel Campusano - Lifestyle International Realty
- Seller's Rep: Maria Morgado - Lifestyle International Realty
The transaction was facilitated by Franciel Campusano from Lifestyle International Realty as the buyer's representative and Maria Morgado, also from Lifestyle International Realty, as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$61,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,085.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,451.59
Annual Debt Service$65,419.04
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