Prime Real Estate Group Acquires Multifamily Property In Jersey City Heights For $1.02M
SOLD
$1,020,000
New Jersey
See Similar DealsMultiFamily3,500 SF
Sold 12/06/2021
SOLD
Prime Real Estate Group Acquires Multifamily Property In Jersey City Heights For $1.02M
59 Reservoir Avenue, Jersey City, NJ 07307, USA
See Similar DealsMultiFamily3,500 SF
Sold 12/06/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$291
Total Square Footage:3,500 SF
Transaction Type:Sale
The multifamily property located at 59 Reservoir Ave in Jersey City Heights has been sold in a recent transaction. The property, considered to be historic, features a lot size of 50 X 100. The transaction took place on 12/06/2021, with a sale price of $1,020,000. The property spans across 3,500 square feet, resulting in a price per square foot of $291.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,020,000
- Address: 59 Reservoir Ave
- Market: Jersey City Heights
The buyer was represented by Lindsay Wiener from Prime Real Estate Group, while the seller was represented by Christian Bastidas from West Hoboken Residential.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$54,400.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,623.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,835.32
Annual Debt Service$58,023.84
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