Updated Dec 4, 2024
William Hodgson Jr. Facilitates $1.25M Duplex Sale In Barnegat Light Multifamily
3 East 9th Street
$1,250,000
$620/SF
Building Size
2,016 SF
Asset Type
MultiFamily
Closing
Apr 5, 2024
About this deal
AI
The charming duplex at 3 East 9th Street in Barnegat Light has been sold for $1,250,000. Situated on a 50x125 lot just steps from the beach, this multifamily property offers two units with a total of 6 bedrooms and 2.5 baths, making it an ideal investment opportunity or potential site for building one's dream home in close proximity to shops, restaurants, and attractions on Long Beach Island.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,250,000
- Broker: William Hodgson Jr. - Island Realty
- Market: Barnegat Light
- Square Footage: 2,016
- Price per Square Foot: $620
William Hodgson Jr. of Island Realty played a crucial role in facilitating the sale of the duplex at 3 East 9th Street. This transaction highlights the significance of having a seasoned professional like William Hodgson Jr. to ensure a smooth and successful real estate deal in Barnegat Light.
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Barnegat Light 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
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93