Updated Sep 9, 2024
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
About this deal
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.
The multifamily sale at 5356 Asbury Avenue, Ocean City, NJ, USA in Ocean City, New Jersey sold for $1.2M in 2021. Reported inventory is 2,600 square feet across 2 units, or about 451 per square foot. Mark Grimes, Kevin Redmond, Berkshire Hathaway HomeServices appear on the sale alongside Berkshire Hathaway HomeServices. This page is the Ocean City, New Jersey file for the 5356 Asbury Avenue, Ocean City, NJ, USA multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Ocean City sit in the Market section below. Filter that Ocean City multifamily set by closing date to see what else sold near 5356 Asbury Avenue, Ocean City, NJ, USA around 2021. Published consideration for 5356 Asbury Avenue, Ocean City, NJ, USA is $1.2M, dated 2021. Cite this Long & Foster Real Estate Inc Acquires Ocean City Multifamily For $1.175M sale when underwriting similar multifamily product around Ocean City, New Jersey.
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Ocean City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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