Multifamily Property At 1005 Trenton Avenue Sold For $3.5M With Broker Daniel Lanni
1005 Trenton Avenue
$3,500,000
$140/SF
Building Size
25,000 SF
Asset Type
MultiFamily
Closing
Sep 18, 2024
AI
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.
Players
Point Pleasant Boro 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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93