Edward Verdel Acquires Multifamily Property On 631 Jersey Ave, Jersey City For $2.35M
SOLD
$2,350,000
New Jersey
See Similar DealsMultiFamily
Sold 08/25/2022
SOLD
Edward Verdel Acquires Multifamily Property On 631 Jersey Ave, Jersey City For $2.35M
631 Jersey Avenue, Jersey City, New Jersey 07302, United States
See Similar DealsMultiFamily
Sold 08/25/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
631 Jersey Ave, located in Jersey City, was recently sold for $2,350,000. The transaction took place on August 25, 2022. This property is a multifamily asset, making it an attractive investment opportunity in the market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,350,000
- Address: 631 Jersey Ave
- Market: Jersey City
The buyer's representative in this transaction was Edward Verdel from Compass, while the seller's representative was Patrick Southern from Coldwell Banker Realty. Their expertise helped facilitate a successful deal for all parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$125,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,349.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,140.20
Annual Debt Service$133,682.39
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