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Christie's International Real Estate Acquires Multifamily Property On Lake Ave In Lyndhurst For $1.2M

Property Image
SOLD
$1,200,000

New Jersey

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MultiFamily3,348 SF
Sold 12/22/2021
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Property Image
SOLD

Christie's International Real Estate Acquires Multifamily Property On Lake Ave In Lyndhurst For $1.2M

536 Lake Avenue, Lyndhurst, NJ 07071

See Similar Deals
MultiFamily3,348 SF
Sold 12/22/2021
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$358
Total Square Footage:3,348 SF
Transaction Type:Sale

Located at 536 Lake Ave in Lyndhurst, this multifamily property was recently sold for a price of $1,200,000. The transaction took place on December 22, 2021. The property consists of 6 units, resulting in a price per unit of $200,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,200,000
  • Units: 6
  • Price per Unit: $200,000
  • Address: 536 Lake Ave, Lyndhurst
  • Market: Lyndhurst

The buyer's representative for this transaction was Celia Riggio from Christie's International Real Estate Northern New Jersey, Inc. On the other hand, Joseph Aziz represented the seller as the seller's representative from Prestige Property Group.

Players

Celia Riggio
1 deal$1.2M volume
BROKER

Joseph Aziz
Prestige Property Group
4 deals$8.9M volume(201) 708-5067
BROKER

Details

SOLD
IMAGE: Celia Riggio & Joseph Aziz DATE: 12/22/2021 ADDRESS: 536 Lake Ave MARKET: Lyndhurst ASSET TYPE: Multifamily BUYER'S REP: Celia Riggio - Christie's International Real Estate Northern New Jersey, Inc. SELLER'S REP: Joseph Aziz - Prestige Property Group SALE PRICE: $1,200,000 UNITS: 6 ~ PPU: $200,000

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Operating Income
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Net Operating Income (NOI)

$64,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,263.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,688.61
Annual Debt Service$68,263.35