Updated May 25, 2026
Christian Cortez Acquires Multifamily Property In Elizabeth For $1.2M Seller Victor Lopez Represented By Jonathan J. Cardona
909-911 Monroe Avenue
$1,200,000
$333/SF
Building Size
3,600 SF
Asset Type
MultiFamily
Closing
May 4, 2026
About this deal
AI
The property involved in this transaction is a multifamily asset located at 909-911 Monroe Avenue in Elizabeth. The sale price for the property was $1,200,000, and it comprises 2 units with a total square footage of 3,600. The price per unit is $600,000, leading to a price per square foot of $333.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,200,000
- Units: 2
- Square Footage: 3,600
- Price Per Unit: $600,000
- Price Per Square Foot: $333
- Buyer: Christian Cortez
- Seller: Victor Lopez
- Seller's Rep: Jonathan J. Cardona - Keller Williams City Views
This transaction features Christian Cortez as the buyer and Victor Lopez as the seller. Jonathan J. Cardona from Keller Williams City Views represented the seller in this deal. The property is noted for being the highest selling renovated two-family home with an existing foundation.
On the Map
$1,200,000
$333/SF
MultiFamily
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Elizabeth 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
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93