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Edgewater Multifamily Property Sold For $1.4M With Maureen McSpirit's Representation
SOLD
$1,400,000
New Jersey
See Similar DealsMultiFamily
Sold 09/11/2023
SOLD
Edgewater Multifamily Property Sold For $1.4M With Maureen McSpirit's Representation
539 Undercliff Ave Edgewater, NJ 07020, USA
See Similar DealsMultiFamily
Sold 09/11/2023
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
A prime Edgewater property, a brick 4-family multifamily unit located at 539 Undercliff Avenue, was sold for $1.4 million. The property offers spacious rooms and stunning views of the Hudson River and NYC from some units. It also features convenient rear parking, providing quick access to NYC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,400,000
- Units: 4
- Price Per Unit (PPU): $350,000
The transaction was facilitated by Maureen McSpirit, a broker from McSpirit & Beckett Real Estate. Along with representing the property, McSpirit is an experienced broker with extensive knowledge of the Edgewater market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$74,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,973.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,636.71
Annual Debt Service$79,640.57
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