CBRE Brokers Sell Multifamily Assets In Belleville, Woodbridge, And South Orange For $10.62M
SOLD
$10,620,000
New Jersey
See Similar DealsMultiFamily
Sold 11/05/2021
SOLD
CBRE Brokers Sell Multifamily Assets In Belleville, Woodbridge, And South Orange For $10.62M
5-22 Carpenter Terrace South, Belleville, NJ, USA
See Similar DealsMultiFamily
Sold 11/05/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 5-22 Carpenter Terrace, 1499 Oak Tree Road, and 43 Cottage Street in Belleville, Woodbridge, and South Orange has been sold for a total price of $10,620,000. The property consists of 62 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,620,000
- Units: 62
- Market: Belleville, Woodbridge & South Orange
- Brokers: Jeremy Wernick, Charles Berger & Elli Klapper - CBRE
The sale was facilitated by CBRE, with Jeremy Wernick, Charles Berger, and Elli Klapper as the brokers representing the parties involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$566,400.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,730.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,344.22
Annual Debt Service$604,130.62
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