Century 21 Proferred Realty Represents Seller In $700,000 Sale Of Multifamily Property In Newark, NJ

The multifamily property located at 295 Fairmount Ave in Newark, NJ was recently sold. The sale took place on 07/26/2021. The property consists of 6 units with a total square footage of 4,700. The asking price for the property was $749,000, and it was sold for $700,000, resulting in a price per unit (PPU) of $116,667. The price per square foot (PPSF) was $149. The property has a capitalization rate (CAP) of 7%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $700,000
• Units: 6
• Total Square Footage: 4,700
• Price per Unit (PPU): $116,667
• Price per Square Foot (PPSF): $149
• Capitalization Rate (CAP): 7%
• Address: 295 Fairmount Ave, Newark, NJ
• Market: Newark, NJ

The sale of the property was handled by Diane Rivera from Century 21 Proferred Realty. She represented the seller in the transaction.