Updated Dec 4, 2024
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
About this deal
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:
- Property Type: Multifamily
- Transaction Amount: $1,670,000
- Address: 321 Highland Avenue
- Market: Palisades Park
- Buyer's Representative: Woohwa Jung - Kingstone Realty LLC
- Seller's Representative: Michael Guarriello - Keller Williams Valley Realty
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.
On the Map
$1,670,000
MultiFamily
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Palisades Park MultiFamily Market Snapshot
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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