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David Zelinski Of Berger Realty Represents Sale Of Ocean City Multifamily Property For $3.1M
SOLD
$3,100,000
New Jersey
See Similar DealsMultiFamily
Sold 01/08/2025
SOLD
David Zelinski Of Berger Realty Represents Sale Of Ocean City Multifamily Property For $3.1M
3829 31 Central Avenue
See Similar DealsMultiFamily
Sold 01/08/2025
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 3829-31 Central Avenue in Ocean City has been sold for $3.1 million. This property is categorized as an asset type of multifamily and is part of the Ocean City market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,100,000
- Address: 3829-31 Central Avenue
- Market: Ocean City
- Broker: David Zelinski - Berger Realty
David Zelinski of Berger Realty represented the transaction in this sale. This deal showcases the active multifamily real estate market in Ocean City.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$165,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98
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