Monica Capellan & Edward Kim Sell Multifamily Property In Jersey City For $1.75M
364 8th Street
$1,750,000
$500/SF
Building Size
3,500 SF
Asset Type
MultiFamily
Closing
Jun 5, 2024
AI
The multifamily property located at 364 8th Street in Jersey City, NJ, was recently sold for $1,750,000. The property consists of 6 units spanning 3,500 square feet, resulting in a price per unit of $291,667 and a price per square foot of $500.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,750,000
- Address: 364 8th Street
- Market: Jersey City, NJ
- Units: 6
- Square Footage: 3,500
- Price per Unit: $291,667
- Price per Square Foot: $500
- Brokers: Monica Capellan & Edward Kim - Prominent Properties Commercial
Monica Capellan and Edward Kim from Prominent Properties Commercial represented the parties involved in this transaction, showcasing their expertise in facilitating the sale of this multifamily property in Jersey City, NJ.
Players
Jersey City 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
9.06%
Cash-on-Cash
-2.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93