Berkshire Hathaway HomeServices Acquires Multifamily Property In Lodi, NJ For $775,000
SOLD
$775,000
New Jersey
See Similar DealsMultiFamily5,500 SF
Sold 10/20/2022
SOLD
Berkshire Hathaway HomeServices Acquires Multifamily Property In Lodi, NJ For $775,000
86 Westervelt Place, Lodi
See Similar DealsMultiFamily5,500 SF
Sold 10/20/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$140
Total Square Footage:5,500 SF
Transaction Type:Sale
The multifamily property located at 86 Westervelt Pl in Lodi, NJ, was recently sold in a closed transaction. The property consists of 5 units and spans a total of 5,500 square feet. The sale price for this transaction was $775,000, which translates to a price per unit (PPU) of $155,000. The price per square foot (PPSF) for this property is $141. The property was listed with an asking price of $699,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $775,000
- Units: 5
- Price per Unit (PPU): $155,000
- Square Footage: 5,500
- Price per Square Foot (PPSF): $141
The buyer's representative for this transaction was Michael N. Todaro, from Michael Properties Golden Image Realty Ramsey. On the other hand, Aldo Merendino from Berkshire Hathaway Home Services represented the seller. These individuals played an instrumental role in facilitating the deal between the buyer and seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$41,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,753.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,673.90
Annual Debt Service$44,086.74
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