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Fanny Na Chung Facilitates $1.74M Sale Of Multifamily Property In Montclair
SOLD
$1,740,000
New Jersey
See Similar DealsMultiFamily
Sold 05/02/2024
SOLD
Fanny Na Chung Facilitates $1.74M Sale Of Multifamily Property In Montclair
53 Union Street
See Similar DealsMultiFamily
Sold 05/02/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
53 Union Street, a multifamily property in Montclair, was sold for $1,740,000. The property offers a sunny and spacious layout with seven units, including both 2-bedroom and 1-bedroom apartments. It features amenities such as hardwood floors, parking spaces, and convenient access to NYC transportation and local amenities.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,740,000
- Address: 53 Union Street
- Market: Montclair
- Asset Type: Multifamily
- Broker: Fanny Na Chung - Keller WilliamsSuburban Realty
The transaction at 53 Union Street was facilitated by Fanny Na Chung of Keller Williams Suburban Realty, representing the parties involved in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$92,800.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,181.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,248.49
Annual Debt Service$98,981.85
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