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Musleh Acquires Multifamily Property In Ridgefield, NJ For $1.6M

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SOLD
$1,600,000

New Jersey

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MultiFamily35,889 SF
Sold 11/23/2021
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Property Image
SOLD

Musleh Acquires Multifamily Property In Ridgefield, NJ For $1.6M

739 Day Avenue, Ridgefield, NJ 07657

See Similar Deals
MultiFamily35,889 SF
Sold 11/23/2021
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Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$44
Total Square Footage:35,889 SF
Transaction Type:Sale

A multifamily property located at 739 Day Ave in Bergen County, Ridgefield, NJ has been sold. The property consists of 2 units with a total square footage of 35,889. The asking price for the property was $1,895,000 and it was sold for $1,600,000, resulting in a price per unit of $800,000 and a price per square foot of $45.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $1,600,000
  • Address: 739 Day Ave, Bergen County, Ridgefield, NJ
  • Market: Bergen County, Ridgefield, NJ
  • Buyer: Musleh
  • Seller: Mettler
  • Buyer's Representative: Fernando M. Cayo - Group Twenty Six, LLC
  • Seller's Representative: Justin Smith - Remax Select
  • Lender: Donald Maita II - NJ Lenders Corp

This transaction was facilitated by the buyer's representative, Fernando M. Cayo from Group Twenty Six, LLC, and the seller's representative, Justin Smith from Remax Select. The lender involved in the deal was Donald Maita II from NJ Lenders Corp.

Players

2 deals$3.1M volume
BROKER

Justin Smith
9 deals$96M volume
BROKER

Details

SOLD
IMAGE: Justin Smith DATE: 11/23/2021 ADDRESS: 739 Day Ave MARKET: Bergen County, Ridgefield, NJ ASSET TYPE: Multifamily BUYER: Musleh SELLER: Mettler BUYER'S REP: Fernando M. Cayo - Group Twenty Six, LLC SELLER'S REP: Justin Smith - Remax Select (@RemaxSelect.Rosario) LENDER: Donald Maita II - NJ Lenders Corp ASKING PRICE: $1,895,000 SALE PRICE: $1,600,000 UNITS: 2 ~ PPU: $800,000 SF: 35,889 ~ PPSF: $45

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$85,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80