Private Investor Acquires Garfield Property From Limited Liability Company For $1.1M
SOLD
$1,100,000
New Jersey
See Similar DealsMultiFamily
SOLD
Private Investor Acquires Garfield Property From Limited Liability Company For $1.1M
500 Lanza Ave, Garfield, NJ, 07026
See Similar DealsMultiFamily
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
The property involved in this transaction is Davison Apartments, an eight-unit apartment building located at 500 Lanza Ave, Garfield, NJ, 07026. The sale was completed for $1,100,000.00. The property is situated in the Garfield market and has a square footage of 0.
Summary of transaction details:
- Property Type: Apartment Building
- Transaction Amount: $1,100,000.00
- Address: 500 Lanza Ave, Garfield, NJ, 07026
- Market: Garfield
- Buyer: Private Investor
- Seller: A Limited Liability Company
- Buyer’s Representative: Daniel Aviles
- Seller’s Representative: Daniel Aviles
The transaction was brokered by Marcus & Millichap, with Daniel Aviles representing both the buyer and the seller in the deal, facilitating the sale of the property from a limited liability company to a private investor.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$58,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73
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