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3232 Wesley Avenue

Updated Dec 4, 2024

Kayla Noll Of Compass Represents Buyer In Sale Of Ocean City Multifamily For $5.185M
SOLDMultiFamily

Kayla Noll Of Compass Represents Buyer In Sale Of Ocean City Multifamily For $5.185M

3232 Wesley Avenue

$5,185,000

Building Size

Asset Type

MultiFamily

Closing

Sep 5, 2024

About this deal

AI

The multifamily property located at 3232-3234 Wesley Avenue in Ocean City features nine bedrooms and six bathrooms, encompassing a total of 4,600 square feet. The asset sold for $5,185,000, highlighting its potential for both residential use and rental investment. The property offers expansive decks and panoramic views of the ocean, enhancing its appeal in the market.

Summary of transaction details:

The transaction involved Kayla Noll from Compass representing the buyer, while Christopher Monihan and Lindsay Monihan from Monihan Realty represented the seller, facilitating the sale of this beachfront duplex in a desirable location.

Players

Christopher Monihan

Monihan Realty

Broker

$18.4M

vol

5 deals

Broker

Ocean 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

3.06%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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