Tony Nabhan Facilitates $1.3M Sale Of Multifamily Asset In Jersey City
63 Oak Street
$1,300,000
Building Size
—
Asset Type
MultiFamily
Closing
May 27, 2024
AI
The prime multifamily asset at 63 Oak Street in Jersey City was sold for $1,300,000. Situated in the Bergen/Lafayette section, the property comprises eight units, each featuring two bedrooms and one bathroom. With significant value-add potential, this asset also offers convenient access to New York City.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,300,000
- Units: 8
- Price Per Unit: $162,500
- Address: 63 Oak Street
- Market: Jersey City
Tony Nabhan from Keller Williamsfacilitated the sale of the property. Representing the deal, Tony played a crucial role in the transaction, ensuring a successful outcome for all parties involved.
Jersey City 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
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93