SOLDMultiFamily
Joni Sweetwood Of Kislak Represents Sale Of Multifamily Property In Vineland For $12M
51 West Chestnut Avenue
$12,000,000
$480/SF
Building Size
25,000 SF
Asset Type
MultiFamily
Closing
Dec 16, 2024
AI
This multi-family property, located at 51 West Chestnut Avenue in Vineland, NJ, was sold for a price of $12,000,000. The asset comprises 108 units, resulting in a price per unit of $111,111.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $12,000,000
- Units: 108
- Price Per Unit: $111,111
- Date of Sale: 12/16/2024
The transaction was facilitated by broker Joni Sweetwood from Kislak, representing the interests involved in this property sale.
Players
Vineland 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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93