Marcus & Millichap Arranges $5.53M Sale Of Multifamily Portfolio In Vineland, New Jersey
508 North West Avenue, 515 3rd St, 515 3rd St Vineland, & 515 South 3rd Street
$5,525,000
$25/SF
Building Size
54,000 SF
Asset Type
MultiFamily
Closing
Aug 4, 2026
AI
A 36-unit multifamily portfolio located at 508 North West Avenue & 515 3rd Street in Vineland, NJ was sold for $5,525,000. The total square footage of the properties is 54,000, resulting in a per unit price of $153,472 and a price per square foot of $102.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,525,000
- Units: 36
- Square Footage: 54,000
- Price Per Unit: $153,472
- Price Per Square Foot: $102
Carson Rooney and Jim McGuckin of Marcus & Millichap represented the seller and facilitated the transaction with a buyer from North Jersey. The firm arranged the sale of the portfolio, which traded at approximately $153,000 per unit.
Players
Charlotte Hall 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
2.87%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93