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348 Teaneck Road

Young Star Realty Represents Buyer In $1.03M Sale Of Multifamily Property
SOLDMultiFamily

Young Star Realty Represents Buyer In $1.03M Sale Of Multifamily Property

348 Teaneck Road

$1,030,000

Building Size

Asset Type

MultiFamily

Closing

Jun 10, 2024

AI

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.

Players

Woo Park

Broker

$2.4M

vol

2 deals

Broker

Ridgefield Park 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

15.40%

Cash-on-Cash

-4.40%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93