Joseph Bongiorno Of Better Homes And Gardens Real Estate Represents Buyer In Surf City Triplex Sale For $1.2M
717 North Central Avenue
$1,200,000
$446/SF
Building Size
2,690 SF
Asset Type
MultiFamily
Closing
Sep 19, 2024
AI
A triplex located at 717 North Central Avenue in Surf City has been sold. The sale price of the property was $1,200,000, with a total square footage of 2,690, resulting in a price per square foot of $446. The property is situated on a 50x100 corner lot and consists of a two-story duplex along with an additional one-bedroom cottage, providing several living and rental options.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,200,000
- Square Footage: 2,690
- Price per Square Foot: $446
- Address: 717 North Central Avenue
- Market: Surf City
- Buyer's Representative: Joseph Bongiorno - Better Homes and Gardens Real Estate
- Seller's Representative: Gina Laird - Re/Max
The transaction involved key representatives from the real estate market, with Joseph Bongiorno representing the buyer and Gina Laird representing the seller. Their involvement highlights the collaborative efforts necessary in closing this deal in a competitive market environment.
Players
Surf City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93