Marcus & Millichap Brokers Sell Multifamily Property In Newark, NJ For $5.2M
SOLD
$5,200,000
New Jersey
See Similar DealsMultiFamily20,086 SF
Sold 10/13/2021
SOLD
Marcus & Millichap Brokers Sell Multifamily Property In Newark, NJ For $5.2M
73-87 4th Avenue, Newark, NJ, USA
See Similar DealsMultiFamily20,086 SF
Sold 10/13/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$258
Total Square Footage:20,086 SF
Transaction Type:Sale
The multifamily property located at 73-87 4th Avenue in Newark, NJ was recently sold for a total price of $5,200,000. The property spans a total of 20,086 square feet, resulting in a price per square foot of $259.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,200,000
- Address: 73-87 4th Avenue, Newark, NJ
- Market: Newark, NJ
The sale of this multifamily property was facilitated by Richard Gatto, Fahri Ozturk, and Jed Matricaria from Marcus & Millichap. They represented the parties involved in the transaction and played a crucial role in ensuring its successful completion.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$277,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83
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