Updated Dec 21, 2023
Berkshire Hathaway HomeServices Acquires Multifamily Property In Ocean City, NJ For $1.85M
800-02 3rd Street, Ocean City, NJ, USA
$1,850,000
$552/SF
Building Size
3,350 SF
Asset Type
MultiFamily
Closing
Mar 30, 2021
About this deal
AI
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.
Players
Ocean City 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
8.57%
Cash-on-Cash
-2.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93