Compass Acquires Multifamily Property In Jersey City For $1.6M
SOLD
$1,600,000
New Jersey
See Similar DealsMultiFamily3,600 SF
Sold 10/18/2023
SOLD
Compass Acquires Multifamily Property In Jersey City For $1.6M
462 Monmouth Street
See Similar DealsMultiFamily3,600 SF
Sold 10/18/2023
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$444
Total Square Footage:3,600 SF
Transaction Type:Sale
The multifamily property located at 462 Monmouth Street in Jersey City has been sold for a price of $1,600,000. This property consists of 4 units, resulting in a price per unit (PPU) of $400,000. The total square footage of this property is 3,600, with a price per square foot (PPSF) of $444.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $1,600,000
- Units: 4
- Price per Unit (PPU): $400,000
- Square Footage: 3,600
- Price per Square Foot (PPSF): $444
- Market: Jersey City
The buyer's representative in this transaction is Steven Schulman from Compass, while the seller's representative is Robert Dekanski from REMAX 1st Advantage.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80
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