Updated Dec 4, 2024
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.
Montclair MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
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