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Mary Bianchi & Richard Gebbia Close Multifamily Sale In Seaside Heights For $1.05M

Property Image
SOLD
$1,050,000

New Jersey

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MultiFamily4,986 SF
Sold 07/09/2024
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Property Image
SOLD

Mary Bianchi & Richard Gebbia Close Multifamily Sale In Seaside Heights For $1.05M

321 Grant Avenue

See Similar Deals
MultiFamily4,986 SF
Sold 07/09/2024
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$210
Total Square Footage:4,986 SF
Transaction Type:Sale

321 Grant Avenue in Seaside Heights was sold for $1,050,000, featuring a multi-family asset with six units across two buildings. The property offers a solid investment opportunity with fully occupied units, including recently renovated 4-bedroom and 2-bedroom apartments, along with on-site laundry facilities contributing to additional income streams.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,050,000
  • Units: 6
  • Price Per Unit: $175,000
  • Square Footage: 4,986
  • Price Per Square Foot: $211
  • Address: 321 Grant Avenue
  • Market: Seaside Heights

Mary Bianchi of Realty One Group Emerge represented the buyer in the transaction, while Richard Gebbia of NextHome Force Realty Partners represented the seller. This deal highlights the collaborative efforts of these two professionals in facilitating the sale of the multi-family property.

Players

Richard Gebbia
1 deal$1.1M volume(814) 777-2811
BROKER

Mary Bianchi
Realty One Group
1 deal$1.1M volume(732) 684-9758
BROKER

Details

SOLD
IMAGE: Mary Bianchi & Richard Gebbia DATE: 07/09/2024 ADDRESS: 321 Grant Avenue MARKET: Seaside Heights ASSET TYPE: Multifamily BUYER'S REP: Mary Bianchi - Realty One Group Emerge (@ROGEmerge) SELLER'S REP: Richard Gebbia (@RealestatewithRich) - NextHome Force Realty Partners (@Nexthomerealestate) SALE PRICE: $1,050,000 UNITS: 6 ~ PPU: $175,000 SF: 4,986 ~ PPSF: $211 NOTE: 321 Grant Avenue in Seaside Heights was sold for $1,050,000, featuring a multi-family asset with six units across two buildings. The property offers a solid investment opportunity with fully occupied units, including recently renovated 4-bedroom and 2-bedroom apartments, along with on-site laundry facilities contributing to additional income streams.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$55,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,730.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,977.54
Annual Debt Service$59,730.43