Updated Dec 19, 2023
Michael Seidmon Acquires Multifamily Property On Mills St In Morristown For $1.095M
38 Mills Street, Morristown, NJ, USA
$1,095,000
$92/SF
Building Size
11,800 SF
Asset Type
MultiFamily
Closing
Feb 11, 2021
About this deal
AI
A multifamily property located at 38 Mills St in Morristown was recently sold for $1,095,000. The transaction took place on 02/12/2021.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,095,000
- Address: 38 Mills St
- Market: Morristown
Michael Seidmon, representing RE/MAX Select, acted as the buyer's representative in the sale. Erica Travis, from Weichert Realtors, represented the seller in the transaction.
The multifamily sale at 38 Mills Street, Morristown, NJ, USA in Morristown, New Jersey sold for $1.1M in 2021. The building is 11,800 square feet, implying about 92 per square foot on the published price. Erica Travis, Michael Seidmon, Weichert Realtors appear on the sale alongside Weichert Realtors. This page is the Morristown, New Jersey file for the 38 Mills Street, Morristown, NJ, USA multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Morristown sit in the Market section below. Filter that Morristown multifamily set by closing date to see what else sold near 38 Mills Street, Morristown, NJ, USA around 2021. Published consideration for 38 Mills Street, Morristown, NJ, USA is $1.1M, dated 2021. Cite this Michael Seidmon Acquires Multifamily Property On Mills St In Morristown For $1.095M sale when underwriting similar multifamily product around Morristown, New Jersey.
Players
Morristown 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
14.49%
Cash-on-Cash
-4.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93