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3829 31 Central Avenue

David Zelinski Of Berger Realty Represents Sale Of Ocean City Multifamily Property For $3.1M
SOLDMultiFamily

David Zelinski Of Berger Realty Represents Sale Of Ocean City Multifamily Property For $3.1M

3829 31 Central Avenue

$3,100,000

Building Size

Asset Type

MultiFamily

Closing

Jan 8, 2025

AI

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:

David Zelinski of Berger Realty represented the transaction in this sale. This deal showcases the active multifamily real estate market in Ocean City.

Players

David Zelinski

Berger Realty

Broker

$6.3M

vol

2 deals

Broker

Ocean City 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

5.12%

Cash-on-Cash

-1.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93