Updated Dec 4, 2024
Multifamily Building On Paterson's Main Street Sold For $1.055M With EXp Realty's Varsha Shah As The Broker
854 Main Street
$1,055,000
Units
9
Asset Type
MultiFamily
Closing
Sep 18, 2023
About this deal
AI
A commercial multifamily building with nine residential units on Paterson's Main Street sold for $1,055,000 on September 18th. The property's strategic location and unit mix attracted an anonymous buyer, reflecting ongoing investor interest in well-located rental assets.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,055,000
- Address: 854 Main Street, Paterson
- Market: Paterson
Varsha K. Shah of eXp Realty facilitated the sale of this commercial multifamily building. The buyer, whose identity remains anonymous, was attracted to the property's location and the mix of residential units. This transaction highlights the continuous interest from investors in well-located rental assets.
Players
Paterson 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
15.04%
Cash-on-Cash
-4.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93