Updated Dec 20, 2023
Arsenio Lourenco Acquires Multifamily Property On Belgrove Drive, Kearny, NJ For $849K
440 Belgrove Drive, Kearny, NJ 07032, USA
$849,000
$100/SF
Building Size
8,450 SF
Asset Type
MultiFamily
Closing
Aug 11, 2021
About this deal
AI
A multifamily property located at 440 Belgrove Drive in Kearny, NJ has been sold. The property consists of 3 units with a total square footage of 8,450. The asking price and sale price for the property were both $849,000, resulting in a price per unit of $283,000. The price per square foot was $100.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $849,000
- Address: 440 Belgrove Drive, Kearny, NJ
- Market: Kearny, NJ
The buyer of the property was Arsenio Lourenco, while the sellers were George & Gilcelene Araujo. The transaction was facilitated by Norma Lima and Augusto Neno from Neno-Rosa Agency, Inc.
For more information, contact 201-997-7860.
Players
Kearny 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
18.68%
Cash-on-Cash
-5.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93