Titanium Capital Acquires 23-Unit Multifamily In Union City For $2.35M
SOLD
$2,350,000
New Jersey
See Similar DealsMultiFamily18,000 SF
Sold 03/05/2024
SOLD
Titanium Capital Acquires 23-Unit Multifamily In Union City For $2.35M
409 Bergenline Avenue
See Similar DealsMultiFamily18,000 SF
Sold 03/05/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$130
Total Square Footage:18,000 SF
Transaction Type:Sale
The multifamily property located at 409 Bergenline Avenue in Union City has been sold for $2,350,000. The property comprises 23 units with a price per unit of $102,174, spanning 18,000 square feet at a price per square foot of $131.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,350,000
- Units: 23
- Price Per Unit: $102,174
- Square Footage: 18,000
- Price Per Square Foot: $131
- Address: 409 Bergenline Avenue
- Market: Union City
The sale was facilitated by David Betesh of Cushman & Wakefield, representing the buyer, Titanium Capital, and the seller, Chris Yegen from The Yegen Companies.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$125,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,349.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,140.20
Annual Debt Service$133,682.39
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