Clarence Frances Acquires 765 Canton Street Multifamily From Miguel Valdez For $1.125M
SOLD
$1,125,000
New Jersey
See Similar DealsMultiFamily4,233 SF
Sold 12/23/2024
SOLD
Clarence Frances Acquires 765 Canton Street Multifamily From Miguel Valdez For $1.125M
765 Canton Street
See Similar DealsMultiFamily4,233 SF
Sold 12/23/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$265
Total Square Footage:4,233 SF
Transaction Type:Sale
The multifamily property located at 765 Canton Street in Elizabeth sold for $1,125,000. This asset consists of 1 unit and encompasses a total square footage of 4,233, resulting in a price per unit of $1,125,000 and a price per square foot of $265.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,125,000
- Address: 765 Canton Street
- Market: Elizabeth
- Units: 1
- Square Footage: 4,233
- Price Per Unit: $1,125,000
- Price Per Square Foot: $265
- Buyer: Clarence Frances
- Seller: Miguel Valdez
- Broker: Jonathan J. Cardona - Lifestyle International Realty
Jonathan J. Cardona represented the broker Lifestyle International Realty in this transaction, marking a record-breaking sale for the highest sold new construction 2-family house in Elizabeth, NJ.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$60,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,996.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,333.07
Annual Debt Service$63,996.89
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