Liberty Realty LLC Represents Buyer In $1.55M Multifamily Sale On Jersey Ave, Jersey City
SOLD
$1,550,000
New Jersey
See Similar DealsMultiFamily1,349 SF
Sold 04/15/2021
SOLD
Liberty Realty LLC Represents Buyer In $1.55M Multifamily Sale On Jersey Ave, Jersey City
648 Jersey Ave, Jersey City, NJ, USA
See Similar DealsMultiFamily1,349 SF
Sold 04/15/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$1,149
Total Square Footage:1,349 SF
Transaction Type:Sale
A multifamily property located at 648 Jersey Ave in Jersey City has recently been sold for $1,550,000. The transaction took place on April 15, 2021, with David Tobias from Liberty Realty LLC representing the buyer and Phil Rivo from Armagno Agency Inc representing the seller.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,550,000
- Address: 648 Jersey Ave, Jersey City
- Market: Jersey City
The sale of this multifamily property was facilitated by David Tobias of Liberty Realty LLC, who represented the buyer, and Phil Rivo of Armagno Agency Inc, who represented the seller. The property boasts various features and characteristics that make it an attractive investment opportunity.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$82,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,506.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,347.79
Annual Debt Service$88,173.49
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