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321 Highland Avenue

Woohwa Jung Of Kingstone Realty Represents Buyer In $1.67M Palisades Park Duplex Sale
SOLDMultiFamily

Woohwa Jung Of Kingstone Realty Represents Buyer In $1.67M Palisades Park Duplex Sale

321 Highland Avenue

$1,670,000

Building Size

Asset Type

MultiFamily

Closing

Sep 11, 2024

AI

A turn-key duplex located at 321 Highland Avenue in Palisades Park sold for $1,670,000. The property includes two units with hardwood floors, large bedrooms, finished basements, and separate utilities, as well as a detached two-car garage. Unit B has been recently renovated and is currently vacant. The property has been owned since 1986.

Summary of transaction details:

Woohwa Jung represented the buyer in this transaction, while Michael Guarriello represented the seller. The successful sale reflects the collaboration and efforts of both brokerage agencies involved in the negotiation process.

Players

Michael Guarriello

Keller Williams Realty

Broker

$3.5M

vol

2 deals

Broker

Palisades Park 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

9.50%

Cash-on-Cash

-2.71%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93