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37-47 Watson Avenue

Multifamily Property At 37-47 Watson Avenue Sold For $3.63M With Jeff Squires Of Kislak
SOLDMultiFamily

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

Jeff Squires

Kislak

Broker

$280.4M

vol

17 deals

Broker

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