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Mark Minadeo Of Re/Max Country Realty Represents Buyer In $1.025M Vernon Multifamily Sale
SOLD
$1,025,000
New Jersey
See Similar DealsMultiFamily
Sold 09/20/2024
SOLD
Mark Minadeo Of Re/Max Country Realty Represents Buyer In $1.025M Vernon Multifamily Sale
527 County Road 515
See Similar DealsMultiFamily
Sold 09/20/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 527 Route 515 in Vernon has been sold. The asset encompasses 0.42 acres and has transacted for $1,025,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,025,000
- Address: 527 Route 515
- Market: Vernon
- Acres: 0.42
- Buyer's Representative: Mark Minadeo - Re/Max Country Realty
- Seller's Representative: Christopher Varela - Realty Empire
The transaction featured Mark Minadeo representing the buyer and Christopher Varela representing the seller, facilitating the exchange of this multifamily asset in the Vernon market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$54,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,641.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,859.02
Annual Debt Service$58,308.28
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