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Compass Represents Buyer In $1.26M Multifamily Property Acquisition In Jersey City
SOLD
$1,260,000
New Jersey
See Similar DealsMultiFamily
Sold 01/12/2024
SOLD
Compass Represents Buyer In $1.26M Multifamily Property Acquisition In Jersey City
663 Summit Avenue
See Similar DealsMultiFamily
Sold 01/12/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
In Jersey City, a multifamily property at 663 Summit Avenue was acquired for a sale price of $1,260,000. The property is located in the market of Jersey City.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,260,000
- Address: 663 Summit Avenue
- Market: Jersey City
The buyer's representative in this transaction was Marcus Pinto, who works for Compass. The seller's representative was Megan Gulick of Corcoran Sawyer Smith.
Note: The sale at 663 Summit Avenue was facilitated by Marcus Pinto from Compass, representing the buyer, and Megan Gulick from Corcoran Sawyer Smith, representing the seller. The transaction concluded with a sale price of $1,260,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$67,200.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,476.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,973.04
Annual Debt Service$71,676.51
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