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86 Watchung Avenue

Updated Dec 4, 2024

Michelle Hawley Brokers $1.14M Sale Of Montclair Multifamily Property
SOLDMultiFamily

Michelle Hawley Brokers $1.14M Sale Of Montclair Multifamily Property

86 Watchung Avenue

$1,139,000

Units

2

Asset Type

MultiFamily

Closing

Apr 29, 2024

About this deal

AI

The charming two-family property located at 86 Watchung Avenue in Montclair was sold for $1,139,000. The property features unique architectural details such as original molding, stained glass windows, high ceilings, and a balcony off the third-floor bedroom. With two units on a spacious lot spanning over half an acre, the property offers opportunities for gardening, a pool, firepit, or other creative uses. The second-floor apartment, covering 1,670 square feet, boasts spacious and bright rooms with large windows and skylights - suitable for owner occupancy or rental income generation.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,139,000
  • Units: 2
  • Price Per Unit: $569,500
  • Market: Montclair
  • Address: 86 Watchung Avenue
  • Broker: Michelle Hawley - House of Hawley Realty

Michelle Hawley of House of Hawley Realty represented the parties in the sale of the property, showcasing her expertise in closing real estate transactions in Montclair. The buyers and sellers were able to benefit from her professional guidance throughout the deal, ensuring a successful and smooth transaction for all involved.

Players

Michelle Hawley Tsay

House of Hawley Realty

Broker

$1.1M

vol

1 deal

Broker

Montclair MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $569.5K per unit across 2 units on a published $1.1M (2024).

Visit House of Hawley Realty to view all their deals.

Browse Montclair multifamily sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

13.93%

Cash-on-Cash

-3.98%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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