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322 3rd Street

Updated Sep 9, 2024

Remax Villa Realtors Sells Multifamily Property In Downtown Jersey City For $1.8M
SOLDMultiFamily

Remax Villa Realtors Sells Multifamily Property In Downtown Jersey City For $1.8M

322 3rd Street

$1,800,000

$514/SF

Building Size

3,500 SF

Asset Type

MultiFamily

Closing

Jul 13, 2022

About this deal

AI

A multifamily property located at 322 3rd St in Downtown Jersey City has been sold for $1,800,000. The property consists of 5 units with a price per unit of $360,000. The total square footage of the property is 3,500, resulting in a price per square foot of $514.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,800,000
  • Units: 5
  • Price per Unit: $360,000
  • Square Footage: 3,500
  • Price per Square Foot: $514
  • Address: 322 3rd St, Downtown Jersey City
  • Market: Downtown Jersey City

The sale was facilitated by Sherif Fanous of Remax Villa Realtors, who has over 30 years of experience in the New Jersey real estate market. Sherif is an experienced and reputable real estate professional, known for maximizing profits for his clients. If you're looking to sell your home or investment properties, give Sherif Fanous a call today. He is an alumni of St. Peter's University.

Players

Sherif Fanous

Re/Max

Broker

$8.8M

vol

6 deals

Broker

Jersey City MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $514 per square foot on a published $1.8M for 3,500 square feet (2022).

Visit Sherif Fanous to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.81%

Cash-on-Cash

-2.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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