Ocean Grove Multifamily Property Sold For $1.38M With Brokers Jack Green IV & Michelle Green
37 Pitman Avenue
$1,380,000
$608/SF
Building Size
2,268 SF
Asset Type
MultiFamily
Closing
Feb 14, 2024
AI
In Ocean Grove, a multifamily property located at 37 Pitman Avenue was recently sold. The property encompasses a total square footage of 2,268 and was sold for a price of $1,380,000, resulting in a price per square foot of $608.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,380,000
- Address: 37 Pitman Avenue
- Market: Ocean Grove
- Brokers: Jack Green IV & Michelle Green - Jack Green Realty
The sale was facilitated by Jack Green IV and Michelle Green, representing Jack Green Realty. Their expertise and negotiation skills played a crucial role in this successful transaction.
Overall, the sale of the multifamily property at 37 Pitman Avenue in Ocean Grove demonstrates the strong demand for real estate in the area. With a total square footage of 2,268 and a price per square foot of $608, this property is a valuable asset in the market.
Players
Ocean Grove 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
11.49%
Cash-on-Cash
-3.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93