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

Property Image
SOLD
$1,800,000

New Jersey

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MultiFamily3,500 SF
Sold 07/13/2022
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Property Image
SOLD

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

322 3rd Street

See Similar Deals
MultiFamily3,500 SF
Sold 07/13/2022
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$514
Total Square Footage:3,500 SF
Transaction Type:Sale

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
Sherif Fanous
6 deals$8.8M volume
BROKER

Details

SOLD
IMAGE: Sherif Fanous DATE: 07/13/2022 ADDRESS: 322 3rd St MARKET: Downtown Jersey City ASSET TYPE: Multifamily BROKER: Sherif Fanous (@selljc) - Remax Villa Realtors SALE PRICE: $1,800,000 UNITS: 5 ~ PPU: $360,000 SF: 3,500~ PPSF: $514 NOTE FROM BROKER: SHERIF FANOUS of REMAX Villa Realtors is an Experienced, Award Winning New Jersey Realtor that has been Licensed since 1990. A Knowledgeable, Reputable, Reliable and Trustworthy Real Estate professional with more than 30 years of proven expertise in all New Jersey Real Estate Markets. Call me today to maximize the profit from the Sale of your Home and Investment Properties. Alumni of St. Peter's University.

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

$96,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02