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Kenneth DeGrave Of Compass Represents Buyer In $1.01M Jersey City Multifamily Sale

Property Image
SOLD
$1,010,000

New Jersey

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MultiFamily
Sold 07/15/2024
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Property Image
SOLD

Kenneth DeGrave Of Compass Represents Buyer In $1.01M Jersey City Multifamily Sale

359 Cator Avenue

See Similar Deals
MultiFamily
Sold 07/15/2024
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

A two-family home located at 359 Cator Avenue in Jersey City has been sold for $1,010,000. This multifamily asset comprises two units, each featuring 6 bedrooms, 5 baths, hardwood floors, stainless steel appliances, private balconies, and a finished basement. The property also includes a garage and three additional parking spaces.

Summary of transaction details:

Kenneth DeGrave represented the buyer, while David Wilson represented the seller in this transaction. The transaction highlights a successful collaboration between the representatives from Compass and Realty Executives Signature Homes, facilitating the sale of this multifamily property.

Players

Kenneth (Ken) DeGrave
2 deals$2.3M volume(917) 846-2177
BROKER

David Wilson
Realty Executives
1 deal$1M volume(732) 621-0338
BROKER

Details

SOLD
IMAGE: Kenneth DeGrave & David Wilson DATE: 07/15/2024 ADDRESS: 359 Cator Avenue MARKET: Jersey City ASSET TYPE: Multifamily BUYER'S REP: Kenneth DeGrave (@Kendegrave.realestate) - Compass (@Compass) SELLER'S REP: David Wilson - Realty Executives Signature Homes (@RESignatureHomes) SALE PRICE: $1,010,000 UNITS: 2 ~ PPU: $505,000 NOTE: A luxurious two-family home at 359 Cator Avenue in Jersey City sold for $1.01 million, represented by Kenneth DeGrave of Compass for the buyer and David Wilson of Realty Executives Signature Homes for the seller. Each unit features 6 bedrooms, 5 baths, hardwood floors, stainless steel appliances, private balconies, and a finished basement, with a garage and three additional parking spaces.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,588.31
Cash-on-Cash Return-1.27%
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