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
Cape May 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
9.47%
Cash-on-Cash
-2.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93