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Young Star Realty Represents Buyer In $1.03M Sale Of Multifamily Property
SOLD
$1,030,000
New Jersey
See Similar DealsMultiFamily
Sold
SOLD
Young Star Realty Represents Buyer In $1.03M Sale Of Multifamily Property
348 Teaneck Road
See Similar DealsMultiFamily
Sold
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
The two-unit multifamily property located at 348 Teaneck Road in Ridgefield Park was sold for $1,030,000. The property, built in 1979, features two 3-bedroom, 2-bath units with hardwood floors, an updated kitchen, a ground floor studio with a separate entrance, a large backyard, and an attached 2-car garage.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,030,000
- Units: 2
- Price Per Unit: $515,000
- Acres: 0.28
- Address: 348 Teaneck Road
- Market: Ridgefield Park
Helen Yang of Young Star Realty represented the buyer in the transaction, while Woo Park of Top Realty served as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$54,933.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,659.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,882.73
Annual Debt Service$58,592.71
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