J Fernandez Acquires Multifamily Property In Jersey City, NJ For $915,000
SOLD
$915,000
New Jersey
See Similar DealsMultiFamily2,400 SF
Sold 11/09/2021
SOLD
J Fernandez Acquires Multifamily Property In Jersey City, NJ For $915,000
295 Sherman Ave, Jersey City, NJ, USA
See Similar DealsMultiFamily2,400 SF
Sold 11/09/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$381
Total Square Footage:2,400 SF
Transaction Type:Sale
A multifamily property located at 295 Sherman Ave in Jersey City, NJ has been sold for $915,000. The property features 2 units with a total square footage of 2,400, resulting in a price per square foot of $381. The transaction took place on November 9, 2021, with the buyer identified as J Fernandez and the seller as 295 Sherman LLC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $915,000
- Asking Price: $899,999
- Units: 2
- Price Per Unit: $457,500
- Square Footage: 2,400
- Price Per Square Foot: $381
- Market: Jersey City, NJ
Maria Kosdan from Prime Real Estate Group represented the buyer, J Fernandez, in the transaction. Christian Bastidas and Steven Caraccio from West Hoboken Residential acted as the seller's representatives.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$48,799.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,250.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,337.57
Annual Debt Service$52,050.80
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