Jersey Cape Realty Acquires Multifamily Property In Cape May For $1.6M
SOLD
$1,595,000
New Jersey
See Similar DealsMultiFamily
Sold 06/01/2022
SOLD
Jersey Cape Realty Acquires Multifamily Property In Cape May For $1.6M
717 Washington Street, North Cape May, New Jersey 08204, United States
See Similar DealsMultiFamily
Sold 06/01/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 717 Washington St in Cape May has recently been sold for $1,595,000. The transaction took place on 06/01/2022 and was facilitated by brokers Dolores Lanzalotti and James Zeitler of Jersey Cape Realty.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,595,000
- Address: 717 Washington St
- Market: Cape May
Dolores Lanzalotti and James Zeitler from Jersey Cape Realty represented the parties involved in the sale of this multifamily property. Their expertise and negotiation skills played a crucial role in closing the deal successfully.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,666.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,561.11
Annual Debt Service$90,733.36
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