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SAGE Investment Real Estate Brokers $5.35 Million Sale Of Eight-Unit MultiFamily In Chatham
SOLD
$5,350,000
New Jersey
See Similar DealsMultiFamily
Sold
SOLD
SAGE Investment Real Estate Brokers $5.35 Million Sale Of Eight-Unit MultiFamily In Chatham
312 Hillside Avenue
See Similar DealsMultiFamily
Sold
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
The Ashton is an eight-unit luxury rental property located at 312 Hillside Avenue in Chatham, featuring seven market-rate units and one affordable unit. The property was fully stabilized and offers two-bedroom, two-and-a-half-bath layouts with high-end finishes, which reflects strong rental fundamentals in Chatham's high-barrier, high-income market.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $5,350,000
- Units: 8
- Price Per Unit: $668,750
- Broker: Steve Tragash - SAGE Investment Real Estate
SAGE Investment Real Estate Advisors facilitated the sale of The Ashton, demonstrating the demand for luxury rental properties in the area. The transaction showcases the company's expertise in brokering high-value real estate deals, reinforcing their presence in the Chatham market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$285,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,007.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,361.73
Annual Debt Service$304,340.75
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