Updated Sep 9, 2024
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
Jersey City 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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93