Minni Chalana Of EXP Realty Brokers $1.38M Sale Of Multifamily Property In Jersey City

The property asset involved in this transaction is a newly renovated two-family building located at 816 Pavonia Avenue in Jersey City. This multifamily asset is fully rented and is situated in a prime redevelopment zone near Journal Square, making it an appealing investment opportunity. The sale price for the property was $1,380,000, with two units at a price per unit of $690,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,380,000
• Units: 2
• Price Per Unit: $690,000
• Annual Pro Forma Rents: $99,600
• Cap Rate: 5.7%
• Market: Jersey City
• Broker: Minni Chalana - EXP Realty

Minni Chalana of EXP Realty represented the seller in this transaction, facilitating the sale of the two-family property. The strategic location and the current rental status enhance the investment prospects for the new owner.