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500 Lanza Ave, Garfield, NJ...

Private Investor Acquires Garfield Property From Limited Liability Company For $1.1M
SOLDMultiFamily

Private Investor Acquires Garfield Property From Limited Liability Company For $1.1M

500 Lanza Ave, Garfield, NJ, 07026

$1,100,000

Building Size

Asset Type

MultiFamily

Closing

Nov 19, 2023

AI

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.

Players

Daniel Aviles

Providence Real Estate Advisors

Broker

$48.3M

vol

10 deals

Broker
AC
A Limited Liability CompanySeller

Garfield 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

14.42%

Cash-on-Cash

-4.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93