Gilsenan & Company Acquires Palisades Park Multifamily For $2.4M
51 East Homestead Avenue
$2,400,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 12, 2023
AI
A modern two-family duplex located at 51 East Homestead Avenue in Palisades Park has been sold for $2,400,000. The property features a stucco exterior and includes 6 bedrooms, 8 full baths, and 2 half baths. Each unit comes with a 2-car garage, spacious living areas, and en suite bedrooms.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,400,000
- Address: 51 East Homestead Avenue
- Market: Palisades Park
This sale was facilitated by Kathleen McCormack of Gilsenan & Company, representing the buyer, and Brian Kim of Proper Estates, Inc., representing the seller.
Players
Palisades Park 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
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93