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
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