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Multifamily Property At 348 8th Street In Jersey City Sold For $2.45M With Coldwell Banker Brokers
SOLD
$2,450,000
New Jersey
See Similar DealsMultiFamily
Sold 09/18/2023
SOLD
Multifamily Property At 348 8th Street In Jersey City Sold For $2.45M With Coldwell Banker Brokers
348 8th Street
See Similar DealsMultiFamily
Sold 09/18/2023
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 348 8th Street in Jersey City has been successfully sold for a price of $2,450,000. This property consists of four units, with each unit having an average price per unit of $612,500.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,450,000
- Address: 348 8th Street, Jersey City
- Market: Jersey City
- Brokers: Patrick Southern & Shaye Lastra - Coldwell Banker
The sale of this multifamily property at 348 8th Street was facilitated by brokers Patrick Southern and Shaye Lastra from Coldwell Banker. Their expertise and efforts played a crucial role in successfully completing the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$130,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,704.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,614.25
Annual Debt Service$139,371.00
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