Updated Dec 21, 2023
Jersey Cape Realty Acquires Multifamily Property In Cape May For $1.6M
717 Washington Street, North Cape May, New Jersey 08204, United States
$1,595,000
Building Size
—
Asset Type
MultiFamily
Closing
May 31, 2022
About this deal
AI
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.
Players
Cape May 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
9.95%
Cash-on-Cash
-2.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93