Updated Dec 4, 2024
Zohar Zamir Sells Multifamily Property In Jersey City For $1.05M
432 2nd Street
$1,050,000
Units
3
Asset Type
MultiFamily
Closing
May 31, 2024
About this deal
AI
432 2nd Street, a multifamily property located in downtown Jersey City, was recently sold for $1,050,000. This meticulously maintained three-unit building offers a prime investment opportunity in a historic area. The property has great potential for condo conversion and is conveniently situated close to NYC transportation routes and amenities.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,050,000
- Units: 3
- Price Per Unit: $350,000
- Address: 432 2nd Street, Jersey City
- Market: Jersey City
- Broker: Zohar Zamir - Keller Williams Village Square Realty
Zohar Zamir from Keller Williams Village Square Realty facilitated the sale of 432 2nd Street. The property presents an attractive investment opportunity with its potential for condo conversion and its strategic location in downtown Jersey City.
Jersey 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
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93