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EXp Realty Sells Multifamily Property In Elizabeth, NJ For $1.125M

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SOLD
$1,125,000

New Jersey

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MultiFamily5,062 SF
Sold 11/21/2023
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Property Image
SOLD

EXp Realty Sells Multifamily Property In Elizabeth, NJ For $1.125M

618 Meadow Street

See Similar Deals
MultiFamily5,062 SF
Sold 11/21/2023
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Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$222
Total Square Footage:5,062 SF
Transaction Type:Sale

A 3-family home located at 618 Meadow Street in Elizabeth, NJ has been sold for an impressive price of $1,125,000. This property, spanning across 5,062 square feet, has set a new record as the most expensive sale in Elizabeth. The stunning multifamily asset offers a remarkable opportunity for the new owner to witness history.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,125,000
  • Square Footage: 5,062
  • Price Per Square Foot: $222
  • Market: Elizabeth, NJ

The sale of this extraordinary property was facilitated by Adriana Duarte from eXp Realty. As the broker representing the buyer or seller, Adriana played a crucial role in ensuring a successful transaction. With their expertise and guidance, the deal was finalized, and the property changed hands. The involvement of a reputable broker like Adriana adds an additional layer of trust and professionalism to the sale.

Players

Adriana Duarte
1 deal$1.1M volume(908) 249-1387
BROKER

Details

SOLD
IMAGE: Adriana Duarte DATE: 11/21/2023 ADDRESS: 618 Meadow Street MARKET: Elizabeth, NJ ASSET TYPE: Multifamily BROKER: Adriana Duarte (@AdrianaDuartehomes) - eXp Realty (@ExpRealty_) SALE PRICE: $1,125,000 SF: 5,062 ~ PPSF: $222 NOTE FROM BROKER: Witness history! This stunning 3-family home just set the record as the most expensive sold in Elizabeth.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$60,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,996.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,333.07
Annual Debt Service$63,996.89