Updated Sep 5, 2024
Keller Williams Acquires Union City Multifamily For $4.3M
703a A-707 28th St, Union City, New Jersey 07087, United States
$4,300,000
$21/SF
Building Size
202,400 SF
Asset Type
MultiFamily
Closing
Apr 12, 2022
About this deal
AI
A newly constructed multifamily property located at 703A-707 28th St in Union City has been sold in a closed transaction. The property, completed in November 2021, is fully stabilized and was sold 100% occupied with free market rents. The transaction was an all-cash sale.
Summary of Transaction Details:
- Property Type: Multifamily
- Sale Date: 04/13/2022
- Address: 703A-707 28th St, Union City
- Market: Union City
- Asking Price: $4,695,000
- Sale Price: $4,300,000
- Units: 9
- Price Per Unit (PPU): $477,778
- Square Footage (SF): 22,404
- Price Per Square Foot (PPSF): $191
In this transaction, Emine Simsek from Keller Williams West Monmouth represented the buyer, while Gershon Adjaye from Keller Williams Team Realty represented the seller.
Players
Union 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
3.69%
Cash-on-Cash
-1.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93