Long & Foster Real Estate Inc Acquires Ocean City Multifamily For $1.175M
5356 Asbury Avenue, Ocean City, NJ, USA
$1,175,000
$451/SF
Building Size
2,600 SF
Asset Type
MultiFamily
Closing
Feb 25, 2021
AI
5356-58 Asbury Ave in Ocean City has been sold for $1,175,000 on February 26, 2021. This multifamily property consists of 2 units, with a price per unit of $587,500.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,175,000
- Date: 02/26/2021
- Address: 5356-58 Asbury Ave, Ocean City
- Market: Ocean City
The buyer's representative in this transaction was Kevin Redmond from Long & Foster Real Estate Inc, while the seller's representative was Mark Grimes from Berkshire Hathaway Fox & Roach.
Players
Ocean City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.50%
Cash-on-Cash
-3.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93