Updated Dec 21, 2023
Redfin Corporation Acquires Multifamily Property In Belmar, NJ For $2.4M
314 5th Avenue, Belmar, NJ, USA
$2,435,000
$484/SF
Building Size
5,029 SF
Asset Type
MultiFamily
Closing
Nov 29, 2021
About this deal
AI
A multifamily property located at 314 5th Ave in Belmar, NJ has been sold for a total price of $2,435,000. The property consists of three units with a price per unit of approximately $811,666. The total square footage of the property is 5,029, resulting in a price per square foot of $484.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,435,000
- Address: 314 5th Ave, Belmar, NJ
- Market: Belmar, NJ
- Buyer's Rep: Anthony Gonzalez - Redfin Corporation
- Seller's Rep: Aileen Byrne-Fahy & Edward James Szumski - Berkshire Hathaway HomeServices Fox & Roach
The buyer was represented by Anthony Gonzalez from Redfin Corporation, while the seller was represented by Aileen Byrne-Fahy and Edward James Szumski from Berkshire Hathaway HomeServices Fox & Roach.
Players
Belmar 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
6.51%
Cash-on-Cash
-1.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93