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Fanny Na Chung Facilitates $1.74M Sale Of Multifamily Property In Montclair

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SOLD
$1,740,000

New Jersey

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MultiFamily
Sold 05/02/2024
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SOLD

Fanny Na Chung Facilitates $1.74M Sale Of Multifamily Property In Montclair

53 Union Street

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MultiFamily
Sold 05/02/2024
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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.

Players

Fanny Na Chung
1 deal$1.7M volume(973) 906-4944
BROKER

Details

SOLD
IMAGE: Fanny Na Chung DATE: 05/02/2024 ADDRESS: 53 Union Street MARKET: Montclair ASSET TYPE: Multifamily BROKER: Fanny Na Chung - Keller Williams Suburban Realty SALE PRICE: $1,740,000 NOTE: 53 Union Street, a multifamily property in Montclair, was sold for $1,740,000. The transaction was brokered by Fanny Na Chung of Keller Williams Suburban Realty. The property features a sunny and spacious layout with seven units, including both 2-bedroom and 1-bedroom apartments, and offers amenities such as hardwood floors, parking spaces, and convenient access to NYC transportation and local amenities.

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Deal Type
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