Leles Brothers Coffee Acquires 9-Unit Multifamily In Garfield, NJ For $2.075M
SOLD
$2,075,000
New Jersey
See Similar DealsMultiFamily7,500 SF
Sold
SOLD
Leles Brothers Coffee Acquires 9-Unit Multifamily In Garfield, NJ For $2.075M
81 Grand Street
See Similar DealsMultiFamily7,500 SF
Sold
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$276
Total Square Footage:7500 SF
Transaction Type:Sale
The multifamily property located at 81 Grand Street in Garfield, NJ, was sold for $2,075,000. This property comprises 9 units with a total square footage of 7,500. The price per unit is $230,556, and the price per square foot is $277.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,075,000
- Buyer: George Leles & Dimitri Leles
- Seller: Naim Nihmen
- Buyer's Representative: Christian Schaefers - Compass
- Seller's Representative: Casey Egan - RIPCO
George & Dimitri Leles, who own Leles Brothers Coffee in Garfield, NJ, expanded their investment in the town with the purchase of this 9-unit building.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$110,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,372.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,836.56
Annual Debt Service$118,038.70
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