Multifamily Property At 1005 Trenton Avenue Sold For $3.5M With Broker Daniel Lanni
SOLD
$3,500,000
New Jersey
See Similar DealsMultiFamily25,000 SF
Sold 09/18/2024
SOLD
Multifamily Property At 1005 Trenton Avenue Sold For $3.5M With Broker Daniel Lanni
1005 Trenton Avenue
See Similar DealsMultiFamily25,000 SF
Sold 09/18/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$140
Total Square Footage:25,000 SF
Transaction Type:Sale
The asset involved in this transaction is a multifamily property located at 1005 Trenton Avenue in Point Pleasant Boro. The sale was finalized for a price of $3,500,000, which translates to a per unit price of $350,000 across a total of 10 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,500,000
- Units: 10
- Price Per Unit: $350,000
- Date of Sale: 09/18/2024
- Broker: Daniel Lanni - Kislak
Daniel Lanni from Kislak represented the transaction, participating in the successful closing of this multifamily property sale. This transaction showcases the efforts of the brokerage in facilitating deals in the Point Pleasant Boro market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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