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Blake Edward Halliday And Mark Kolmer Jr. Of Berger Realty Broker Sale Of Ocean City Multifamily For $4.75M

Property Image
SOLD
$4,750,000
Blake Edward Halliday
Mark Kolmer Jr.

New Jersey

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MultiFamily
Sold 10/15/2024
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Property Image
SOLD

Blake Edward Halliday And Mark Kolmer Jr. Of Berger Realty Broker Sale Of Ocean City Multifamily For $4.75M

4209-11 Central Avenue

See Similar Deals
MultiFamily
Sold 10/15/2024
Blake Edward Halliday
Mark Kolmer Jr.
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

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:

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

Blake Edward Halliday
Berger Realty
Blake Edward Halliday
1 deal$4.8M volume(609) 412-3737
BROKER
Mark Kolmer Jr.
Berger Realty
Mark Kolmer Jr.
1 deal$4.8M volume(609) 437-4142
BROKER

Details

SOLD
IMAGE: Blake Edward Halliday & Mark Kolmer Jr. DATE: 10/15/2024 ADDRESS: 4209-11 Central Avenue MARKET: Ocean City ASSET TYPE: Multifamily BROKERS: Blake Edward Halliday (@BlakeHalliday) & Mark Kolmer Jr. - Berger Realty (@BergerRealtyInc) SALE PRICE: $4,750,000 UNITS: 2 ~ PPU: $2,375,000 NOTE: Blake Edward Halliday and Mark Kolmer Jr. of Berger Realty brokered the sale of a $4.75 million beachfront multifamily property at 4209-11 Central Avenue in Ocean City. The property includes two units, each with 4 bedrooms, 3.5 bathrooms, and updated features like hardwood flooring and granite kitchens.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$253,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$16,875.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,517.42
Annual Debt Service$270,209.08