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Evelyn Rafter & Michael Arabia Complete Sale Of Multifamily Building In Edgewater For $1.95M
SOLD
$1,950,000
New Jersey
See Similar DealsMultiFamily5,502 SF
Sold 08/20/2024
SOLD
Evelyn Rafter & Michael Arabia Complete Sale Of Multifamily Building In Edgewater For $1.95M
401 Undercliff Avenue
See Similar DealsMultiFamily5,502 SF
Sold 08/20/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$354
Total Square Footage:5,502 SF
Transaction Type:Sale
A five-family building located at 401 Undercliff Avenue in Edgewater has been sold for $1,950,000. This equates to $354 per square foot for a total of 5,502 square feet of space.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,950,000
- Units: 5
- Price per Unit: $390,000
- Square Footage: 5,502
- Price per Square Foot: $354
- Brokers: Evelyn Rafter & Michael Arabia - Evelyn G. Rafter & Associates
The property features updated kitchens, new appliances, five off-street parking spaces, four garages, and a backyard.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$103,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,927.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,243.99
Annual Debt Service$110,927.94
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