Berkshire Hathaway HomeServices Acquires Multifamily Property In Ocean City, NJ For $1.85M
SOLD
$1,850,000
New Jersey
See Similar DealsMultiFamily3,350 SF
Sold 03/31/2021
SOLD
Berkshire Hathaway HomeServices Acquires Multifamily Property In Ocean City, NJ For $1.85M
800-02 3rd Street, Ocean City, NJ, USA
See Similar DealsMultiFamily3,350 SF
Sold 03/31/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$552
Total Square Footage:3,350 SF
Transaction Type:Sale
A multifamily property located at 800-02 Third St in Ocean City, NJ was recently sold for $1,850,000. The transaction took place on March 31, 2021. The property consists of 2 units, with a price per unit of $925,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,850,000
- Units: 2
- Price Per Unit: $925,000
- Date: March 31, 2021
- Address: 800-02 Third St, Ocean City, NJ
The sale of this multifamily property was facilitated by Ellen McGonigle and Patrick Halliday of Berkshire Hathaway HomeServices Fox & Roach, REALTORS.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$98,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,572.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,769.94
Annual Debt Service$105,239.33
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