31 Van Wagenen Avenue Multifamily Sold For $1.4M With Brokers Chris Vitiello & Gregory Edgell
SOLD
$1,400,000
New Jersey
See Similar DealsMultiFamily12,900 SF
Sold 08/22/2024
SOLD
31 Van Wagenen Avenue Multifamily Sold For $1.4M With Brokers Chris Vitiello & Gregory Edgell
31 Van Wagenen Avenue & 31 Van Wagenen Avenue
See Similar DealsMultiFamily12,900 SF
Sold 08/22/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$108
Total Square Footage:12,900 SF
Transaction Type:Sale
The property involved in this transaction is a multifamily asset located at 31 Van Wagenen Avenue in Jersey City. It was listed for an asking price of $1,400,000 and sold for the same amount. The building comprises 7 units and has a total square footage of 6,450, resulting in a price per unit of $200,000 and a price per square foot of $217.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,400,000
- Units: 7
- Square Footage: 6,450
- Price Per Unit: $200,000
- Price Per Square Foot: $217
- Address: 31 Van Wagenen Avenue
- Market: Jersey City
The transaction was facilitated by brokers Chris Vitiello and Gregory Edgell from Grid Real Estate. Their expertise in the Hudson County investment market was instrumental in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$74,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,973.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,636.71
Annual Debt Service$79,640.57
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