Universe Holdings Acquires Multifamily Property In Toms River, NJ For $60M
SOLD
$60,000,000
New Jersey
See Similar DealsMultiFamily950 SF
Sold 06/23/2020
SOLD
Universe Holdings Acquires Multifamily Property In Toms River, NJ For $60M
372 Kettle Creek Road, Toms River, NJ 08753
See Similar DealsMultiFamily950 SF
Sold 06/23/2020
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$63,157
Total Square Footage:950 SF
Transaction Type:Sale
A multifamily property located at 372 Kettle Creek Rd in Toms River, NJ was recently sold for a total price of $60,000,000. This property consists of 226 units, with an average price per unit of $265,487. The sale took place on June 23, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $60,000,000
- Address: 372 Kettle Creek Rd, Toms River, NJ
- Market: Toms River, NJ
- Buyer: Universe Holdings - Aaron Manoucheri
- Seller's Representative: Spencer Yablon - CBRE
The buyer of the property is Aaron Manoucheri from Universe Holdings. The transaction was facilitated by Spencer Yablon from CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,199,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$213,167.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$284,430.61
Annual Debt Service$3,413,167.33
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