Updated Dec 21, 2023
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
About this deal
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