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Kevin McGonigal Of Re/Max Acquires Multifamily Property In Ocean City For $1.3M As Buyer's Rep

Property Image
SOLD
$1,300,000
Richard Baehrle
Kevin McGonigal

New Jersey

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MultiFamily2,346 SF
Sold 02/23/2024
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Property Image
SOLD

Kevin McGonigal Of Re/Max Acquires Multifamily Property In Ocean City For $1.3M As Buyer's Rep

300 Bay Avenue

See Similar Deals
MultiFamily2,346 SF
Sold 02/23/2024
Richard Baehrle
Kevin McGonigal
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$554
Total Square Footage:2,346 SF
Transaction Type:Sale

Located at 300 Bay Avenue in Ocean City, a multifamily property was recently sold for $1.3 million. The property spans 2,346 square feet, commanding a price per square foot of $554.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,300,000
  • Address: 300 Bay Avenue
  • Market: Ocean City

The buyer, Kevin McGonigal of Re/Max, and the seller's representative, Richard Baehrle of BHHS Fox & Roach, played pivotal roles in facilitating the sale of the multifamily property. McGonigal represented the buyer, while Baehrle represented the seller in the transaction.

Players

Richard Baehrle
Berkshire Hathaway HomeServices
Richard Baehrle
1 deal$1.3M volume(609) 226-6680
BROKER
Kevin McGonigal
Re/Max
Kevin McGonigal
1 deal$1.3M volume(860) 803-0820
BROKER

Details

SOLD
IMAGE: Kevin McGonigal & Richard Baehrle DATE: 02/23/2024 ADDRESS: 300 Bay Avenue MARKET: Ocean City ASSET TYPE: Multifamily BUYER'S REP: Kevin McGonigal - Re/Max (@Remax) SELLER'S REP: Richard Baehrle (@GetRichinrealestatesj) - BHHS Fox & Roach (@BHHS_FoxRoach) SALE PRICE: $1,300,000 SF: 2,346 ~ PPSF: $554 NOTE: In Ocean City, 300 Bay Avenue, a multifamily property, sold for $1.3 million, with Kevin McGonigal of Re/Max representing the buyer and Richard Baehrle of BHHS Fox & Roach representing the seller. The property spans 2,346 square feet, equating to a price per square foot of $554.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$4,618.64
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