Updated Dec 20, 2023
Kislak Realty Sells Belleville, NJ Multifamily Property For $3.125M
360 Washington Avenue, Belleville, NJ 07109
$3,125,000
Units
23
Asset Type
MultiFamily
Closing
Dec 21, 2021
About this deal
AI
A multifamily property located at 360 Washington Ave in Belleville, NJ has been sold. The property consists of 23 units and was sold for a total price of $3,125,000. This amounts to a per unit price of $135,870. The asking price for the property was $3,000,000, indicating that it sold for $125,000 over the asking price. This transaction marks the first time the property has been traded in 45 years and it was sold by the original builder.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,125,000
- Address: 360 Washington Ave, Belleville, NJ
- Units: 23
- Price Per Unit: $135,870
The sale of this multifamily property was facilitated by Daniel Lanni from Kislak Realty. He represented the buyer and seller in the transaction.
Players
Belleville 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
5.08%
Cash-on-Cash
-1.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93