Blake Edward Halliday And Mark Kolmer Jr. Of Berger Realty Broker Sale Of Ocean City Multifamily For $4.75M
4209-11 Central Avenue
$4,750,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 15, 2024
AI
The property asset involved in this transaction is a multifamily property located at 4209-11 Central Avenue in Ocean City. The sale price of the property is $4,750,000 and it includes 2 units, each featuring 4 bedrooms and 3.5 bathrooms. The updated amenities include hardwood flooring and granite kitchens.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,750,000
- Units: 2
- Price Per Unit: $2,375,000
- Brokers: Blake Edward Halliday & Mark Kolmer Jr. - Berger Realty
- Date of Sale: 10/15/2024
Blake Edward Halliday and Mark Kolmer Jr., representing Berger Realty, facilitated the transaction of this beachfront multifamily property. Their roles were key in bringing together the buyer and seller in this closed transaction.
Players
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
3.34%
Cash-on-Cash
-0.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93