Marcus & Millichap Facilitates $2.2M Multifamily Sale In East Orange, NJ
SOLD
$2,200,000
New Jersey
See Similar DealsMultiFamily12,250 SF
Sold 03/31/2022
SOLD
Marcus & Millichap Facilitates $2.2M Multifamily Sale In East Orange, NJ
31 Beech Street, East Orange, New Jersey 07018, United States
See Similar DealsMultiFamily12,250 SF
Sold 03/31/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$179
Total Square Footage:12,250 SF
Transaction Type:Sale
Located in East Orange, this multifamily property at 31 Beech St recently changed hands in a closed transaction. The sale was facilitated by Jed Matricaria from Marcus & Millichap.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $2,200,000
- Square Footage: 12,250
- Price per Square Foot: $180
The transaction between the buyer and seller took place on March 31, 2022. The property at 31 Beech St offers a total of 12,250 square feet of space. The sale price for this multifamily asset was $2,200,000, resulting in a price per square foot of $180.
Jed Matricaria from Marcus & Millichap represented the buyer and seller in this deal, ensuring a smooth transaction for both parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$117,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,816.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,429.12
Annual Debt Service$125,149.47
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