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Jersey City Multifamily Property At 579 Jersey Avenue Sells For $1.26M With Buyer's Rep Quanfeng Zhu & Seller's Rep Amar Mody
SOLD
$1,260,000
New Jersey
See Similar DealsMultiFamily
Sold 11/15/2023
SOLD
Jersey City Multifamily Property At 579 Jersey Avenue Sells For $1.26M With Buyer's Rep Quanfeng Zhu & Seller's Rep Amar Mody
579 Jersey Avenue
See Similar DealsMultiFamily
Sold 11/15/2023
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
In Jersey City, a multifamily property located at 579 Jersey Avenue recently underwent a sales transaction. The property, featuring multiple residential units, was sold for a price of $1,260,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,260,000
- Date: 11/15/2023
- Address: 579 Jersey Avenue
- Market: Jersey City
Representing the buyer in this deal was Quanfeng Zhu from Keller Williams City Views. On the other hand, the seller was represented by Amar Mody from Prominent Properties Sotheby's International Realty.
This transaction serves as a testament to the active real estate market in Jersey City, with the involvement of experienced professionals such as Quanfeng Zhu and Amar Mody.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$67,200.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,476.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,973.04
Annual Debt Service$71,676.51
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