Multifamily Property At 37-47 Watson Avenue Sold For $3.63M With Jeff Squires Of Kislak
37-47 Watson Avenue & 44-50 Watson Avenue
$3,630,000
$72/SF
Building Size
50,000 SF
Asset Type
MultiFamily
Closing
Aug 30, 2024
AI
The property asset involved in the transaction is a multifamily building located at 37-47 Watson Avenue & 44-50 Watson Avenue in the Elizabeth market. The sale price of the property was $3,630,000, which equates to a price per unit of $134,444, with a total of 27 units available.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,630,000
- Units: 27
- Price Per Unit: $134,444
- Broker: Jeff Squires - Kislak
- Transaction Date: 08/30/2024
Jeff Squires represented the brokerage Kislak in this transaction, overseeing the deal in the capacity of the broker. His involvement was instrumental in the successful completion of the sale in the Elizabeth market.
Players
Elizabeth 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
4.37%
Cash-on-Cash
-1.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93