Updated Dec 4, 2024
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:
- Property Type: Multifamily
- Transaction Amount: $5,185,000
- Address: 3232-3234 Wesley Avenue
- Market: Ocean City
- Buyer’s Representative: Kayla Noll - Compass
- Seller’s Representatives: Christopher Monihan & Lindsay Monihan - Monihan Realty
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
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