Updated Jan 8, 2025
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
About this deal
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.
The multifamily sale at 51 West Chestnut Avenue in Vineland, New Jersey sold for $12M in 2024. Reported inventory is 25,000 square feet across 108 units, or about 480 per square foot. Joni Sweetwood, Kislak appear on the sale alongside Kislak. This page is the Vineland, New Jersey file for the 51 West Chestnut Avenue multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Vineland sit in the Market section below. Filter that Vineland multifamily set by closing date to see what else sold near 51 West Chestnut Avenue around 2024. Published consideration for 51 West Chestnut Avenue is $12M, dated 2024. Cite this Joni Sweetwood Of Kislak Represents Sale Of Multifamily Property In Vineland For $12M sale when underwriting similar multifamily product around Vineland, New Jersey.
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Vineland MultiFamily Market Snapshot
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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