West Hoboken Residential Acquires Multifamily Property On Belmont Avenue In Jersey City For $995K
SOLD
$995,000
New Jersey
See Similar DealsMultiFamily4,000 SF
Sold 09/30/2022
SOLD
West Hoboken Residential Acquires Multifamily Property On Belmont Avenue In Jersey City For $995K
43 Belmont Avenue
See Similar DealsMultiFamily4,000 SF
Sold 09/30/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$248
Total Square Footage:4,000 SF
Transaction Type:Sale
The multifamily property located at 43.5 Belmont Avenue in Jersey City, NJ has recently been sold in a closed transaction. The property consists of 2 units with a total area of 4,000 square feet. The sale price for this property was $995,000, resulting in a price per unit of $497,500. The price per square foot was calculated at $249.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $995,000
- Units: 2
- Price Per Unit: $497,500
- Square Footage: 4,000
- Price Per Square Foot: $249
- Market: Jersey City, NJ
Kelly Bastidas from West Hoboken Residential represented the buyer in this transaction, while Steven Caraccio, also from West Hoboken Residential, represented the seller. Kelly Bastidas can be contacted at [email protected] for any off-market investments in Hudson County.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$53,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,535.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,716.81
Annual Debt Service$56,601.69
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