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Multifamily Property In Palisades Park Sold For $1.25M With RE/MAX's Shin Chung As The Broker
SOLD
$1,250,000
New Jersey
See Similar DealsMultiFamily
Sold 10/05/2023
SOLD
Multifamily Property In Palisades Park Sold For $1.25M With RE/MAX's Shin Chung As The Broker
439 3rd Street
See Similar DealsMultiFamily
Sold 10/05/2023
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 439 3rd Street in Palisades Park has been sold. The property was sold for a total of $1.25 million. Shin Chung of RE/MAX Fortune Properties represented the buyer and seller in this transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,250,000
- Address: 439 3rd Street
- Market: Palisades Park
Shin Chung, a licensed real estate broker working with RE/MAX Fortune Properties, played a crucial role in facilitating the sale of this multifamily property. The successful transaction demonstrates Chung's expertise and knowledge of the Palisades Park market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$66,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,440.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,925.64
Annual Debt Service$71,107.65
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