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640 Hughes St, Cape May, NJ...

Chris Clemans Sotheby's International Realtors Acquires Multifamily Property In Cape May For $1.68M
SOLDMultiFamily

Chris Clemans Sotheby's International Realtors Acquires Multifamily Property In Cape May For $1.68M

640 Hughes St, Cape May, NJ, USA

$1,675,000

$224/SF

Building Size

7,458 SF

Asset Type

MultiFamily

Closing

Apr 29, 2021

AI

The multifamily property located at 640 Hughes St in Cape May, NJ was recently sold for a price of $1,675,000. The property consists of 4 units, making the price per unit $418,750. The transaction took place on April 30, 2021.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,675,000
  • Address: 640 Hughes St, Cape May, NJ
  • Units: 4
  • Price per Unit: $418,750

Representing the buyer in this transaction was Christina Clemans from Chris Clemans Sotheby's International Realtors. On the seller's side, Brian Groetsch Jr. and Christine Rothwell from RE/MAX SurfSide acted as the representatives.

Players

Christina Clemans

Sotheby's International Realty

Broker

$1.7M

vol

1 deal

Broker

Cape May MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.47%

Cash-on-Cash

-2.71%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93