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70 Sherman Avenue

Updated Dec 4, 2024

Lyssol Garcia Arikan Sells Multifamily Property In Jersey City For $1.235M
SOLDMultiFamily

Lyssol Garcia Arikan Sells Multifamily Property In Jersey City For $1.235M

70 Sherman Avenue

$1,235,000

Units

3

Asset Type

MultiFamily

Closing

Jun 21, 2024

About this deal

AI

Located at 70 Sherman Avenue in Jersey City, this multifamily property has been sold for $1,235,000. The property consists of three renovated units, each designed with modern finishes and essential appliances, providing comfort and convenience to residents. Situated in a prime location near New York City and surrounded by parks, this property offers an ideal investment opportunity for rental income.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $1,235,000
  • Address: 70 Sherman Avenue
  • Market: Jersey City
  • Units: 3
  • Price Per Unit: $411,667
  • Broker: Lyssol Garcia Arikan - Coldwell Banker Realty

Lyssol Garcia Arikan from Coldwell Banker Realty facilitated the transaction of 70 Sherman Avenue. With expertise in real estate, Lyssol played a crucial role in ensuring a smooth and successful sale of this multifamily property, connecting the buyer and seller for a mutually beneficial deal.

Players

Lyssol Garcia Arikan

Coldwell Banker

Broker

$2.5M

vol

2 deals

Broker

Jersey City MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $411.7K per unit across 3 units on a published $1.2M (2024).

Visit Lyssol Garcia Arikan to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

12.84%

Cash-on-Cash

-3.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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