Updated Dec 4, 2024
Grazyna Torbus Of Royal Crown Realty Represents Buyer In Lyndhurst Multifamily Sale For $1.2M
731 Lake Avenue
$1,200,000
Units
2
Asset Type
MultiFamily
Closing
Sep 26, 2024
About this deal
AI
A two-unit brick-front multifamily home located at 731 Lake Avenue in Lyndhurst has been sold for $1.2 million. Each unit is priced at $600,000. The property, built in 2003, features modern kitchens, a master suite with a balcony, and a large yard, and is conveniently located near NYC transit and major highways.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,200,000
- Units: 2
- Price Per Unit: $600,000
- Buyer's Representative: Grazyna Torbus - Royal Crown Realty, Inc
- Seller's Representative: Diane Obeji - Coldwell Banker
- Transaction Date: 09/26/2024
The transaction was facilitated by Grazyna Torbus from Royal Crown Realty, Inc., representing the buyer, while the seller was represented by Diane Obeji from Coldwell Banker. The deal involved the exchange of a well-located multifamily asset in a growing market area.
Players
Lyndhurst 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
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93