Updated Oct 28, 2024
Shelly Holders, LLC Acquires Multifamily Property In East Orange & Orange For $8M
57-61a East Park Street, East Orange, New Jersey 07017, United States
$8,000,000
Units
68
Asset Type
MultiFamily
Closing
Oct 12, 2022
About this deal
AI
A multifamily property in East Orange and Orange has been sold in a transaction worth $8,000,000. The property is located at 57-61A East Park Street & 463-475 Park Avenue and consists of 68 units. The sale price equates to approximately $117,647 per unit.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $8,000,000
- Units: 68
- Price Per Unit (PPU): $117,647
The buyer, Shelly Holders, LLC, acquired the property from the seller, Al-Kel Realty, LLC. The transaction was facilitated by Joni Sweetwood from The Kislak Company, Inc.
Players
East Orange 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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93