RE/MAX Acquires Multifamily Property In Long Beach Township, NJ For $1.3M
57 Adrian Road, Long Beach Township, NJ 08008
$1,317,400
$653/SF
Building Size
2,016 SF
Asset Type
MultiFamily
Closing
Aug 31, 2021
AI
A multifamily property located at 57 Adrian Rd in Long Beach Township, NJ has been sold. The transaction took place on August 31, 2021, and the sale was facilitated by Scott Wayman of Diane Turton REALTORS, representing the seller, and Mike Spark of RE/MAX, representing the buyer.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,317,400
- Address: 57 Adrian Rd, Long Beach Township, NJ
- Market: Long Beach Township, NJ
- Buyer's Rep: Mike Spark - RE/MAX
- Seller's Rep: Scott Wayman - Diane Turton REALTORS
- SF: 2,016
- PPSF: $653
The property spans approximately 2,016 square feet, with a price per square foot of $653. The transaction was successfully concluded due to the expertise and representation of Mike Spark from RE/MAX, who acted as the buyer's representative, and Scott Wayman from Diane Turton REALTORS, who represented the seller.
Players
Long Beach Township 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
12.04%
Cash-on-Cash
-3.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93