Updated Dec 4, 2024
Dolly Sardar Of Cathy Ades Real Estate Represents Buyer In $1.3M Long Branch Multifamily Sale
299 Brighton Avenue
$1,300,000
Units
2
Asset Type
MultiFamily
Closing
Oct 15, 2024
About this deal
AI
The property asset involved in the transaction is a two-unit multifamily property located at 299 Brighton Avenue in Long Branch, NJ. The sale price was $1,300,000, and the property encompasses 0.34 acres. Each unit is priced at $650,000, and the asset features modern amenities along with separate utilities for each unit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,300,000
- Address: 299 Brighton Avenue
- Market: Long Branch
- Total Acreage: 0.34
- Units: 2
- Price Per Unit: $650,000
Dolly Sardar of Cathy Ades Real Estate represented the buyer, while Carolina Zocco of Rosario Realty Inc. represented the seller in this transaction. The deal involved the sale of updated structures just blocks from the beach, showcasing the involvement of experienced professionals in the real estate market.
Players
Long Branch 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
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93