Updated Dec 4, 2024
Yavuz Bayram Of Keller Williams Park Views Brokers $1.7 Million Multifamily Sale In Passaic
956 Main Avenue
$1,700,000
Units
6
Asset Type
MultiFamily
Closing
Aug 7, 2024
About this deal
AI
A six-unit, all-brick apartment building located at 956 Main Avenue in Passaic was sold for $1,700,000. The property includes a garage with an office, has five rented units, three of which are fully renovated, and generates strong cash flow with tenants covering all utilities except water.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,700,000
- Units: 6
- Price Per Unit: $283,333
- Market: Passaic
The transaction was brokered by Yavuz Bayram from Keller WilliamsPark Views, who facilitated the sale of the multifamily property, ensuring a smooth transition for the involved parties.
On the Map
$1,700,000
MultiFamily
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Passaic 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
9.33%
Cash-on-Cash
-2.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93