Updated Dec 4, 2024
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.
Jersey City 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
12.84%
Cash-on-Cash
-3.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93