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Zvonko Veskov Brokers $1.43M Sale Of Garfield Multifamily Property

Property Image
SOLD
$1,437,500

New Jersey

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MultiFamily
Sold 06/28/2024
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Property Image
SOLD

Zvonko Veskov Brokers $1.43M Sale Of Garfield Multifamily Property

68 Mac Arthur Avenue

See Similar Deals
MultiFamily
Sold 06/28/2024
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

68 Mac Arthur Avenue, a multi-family property in Garfield, sold for $1,437,500. The property features 8 one-bedroom apartments, each with separate utilities. With potential for increased rental income due to below-market rents and month-to-month leases, this property offers a prime investment opportunity. Situated in a convenient location near mass transit and amenities.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,437,500
  • Units: 8
  • Price Per Unit: $179,688
  • Address: 68 Mac Arthur Avenue
  • Market: Garfield

Zvonko Veskov from New Jersey Homes & Estates represented the deal as the broker. The sale of this multi-family property showcases the potential for investment in the Garfield area, leveraging the property's unique features and location to attract buyers looking for a lucrative opportunity in the real estate market.

Players

Zvonko Veskov
New Jersey Homes and Estates
Zvonko Veskov
2 deals$2.8M volume(973) 340-3300
BROKER

Details

SOLD
IMAGE: Zvonko Veskov DATE: 06/28/2024 ADDRESS: 68 Mac Arthur Avenue MARKET: Garfield ASSET TYPE: Multifamily BROKER: Zvonko Veskov (@ZvonkoVeskov) - New Jersey Homes & Estates SALE PRICE: $1,437,500 UNITS: 8 ~ PPU: $179,688 NOTE: 68 Mac Arthur Avenue, a multi-family property in Garfield, was sold for $1,437,500. The property consists of 8 one-bedroom apartments, each with separate utilities and potential for increased rental income due to below-market rents and month-to-month leases, offering a prime investment opportunity in a convenient location near mass transit and amenities.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

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