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364 8th Street

Monica Capellan & Edward Kim Sell Multifamily Property In Jersey City For $1.75M
SOLDMultiFamily

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

Edward Kim

Prominent Properties Commercial

Broker

$14.7M

vol

3 deals

Broker

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