Updated Dec 21, 2023
Berkshire Hathaway HomeServices Acquires Ocean City Multifamily For $1.55M
63 West Avenue, Ocean City, New Jersey 08226, United States
$1,550,000
Units
2
Asset Type
MultiFamily
Closing
Feb 27, 2022
About this deal
AI
The multifamily property located at 5061-63 West Ave in Ocean City has been sold. The transaction took place on February 28, 2022, with a sale price of $1,550,000. The property consists of 2 units, resulting in a price per unit (PPU) of $775,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,550,000
- Address: 5061-63 West Ave
- Market: Ocean City
- Units: 2
- PPU: $775,000
William Nagle from Long & Foster Real Estate, Inc represented the buyer in this transaction. Patrick Halliday from Berkshire Hathaway HomeServices Fox & Roach represented the seller.
Players
Ocean City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Patrick Halliday to view all their deals.
Browse New Jersey multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.23%
Cash-on-Cash
-2.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93