Berkshire Hathaway HomeServices Acquires Ocean City Multifamily For $1.55M
SOLD
$1,550,000
New Jersey
See Similar DealsMultiFamily
Sold 02/28/2022
SOLD
Berkshire Hathaway HomeServices Acquires Ocean City Multifamily For $1.55M
63 West Avenue, Ocean City, New Jersey 08226, United States
See Similar DealsMultiFamily
Sold 02/28/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$82,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,506.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,347.79
Annual Debt Service$88,173.49
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