90-92 Davenport Avenue, Newark Listed at $1.925M by Joseph Spinella, Aidan Alverson, Trevor Sbarra of KW Commercial, and Henry Eisenstein of EXP Realty
SOLD
$1,925,000
+ 1
New Jersey
See Similar DealsMultiFamily6,500 SF
Sold 12/03/2024
SOLD
90-92 Davenport Avenue, Newark Listed at $1.925M by Joseph Spinella, Aidan Alverson, Trevor Sbarra of KW Commercial, and Henry Eisenstein of EXP Realty
90-92 Davenport Avenue
See Similar DealsMultiFamily6,500 SF
Sold 12/03/2024
+ 1
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$296
Total Square Footage:6,500 SF
Transaction Type:Sale
The property asset involved in this transaction is a multifamily building located at 90-92 Davenport Avenue in Newark. The sale price for the asset was $1,925,000, encompassing a total of 6,500 square feet, which translates to a price per square foot of approximately $296.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,925,000
- Address: 90-92 Davenport Avenue
- Market: Newark
- Square Footage: 6,500
- Price Per Square Foot: $296
- Seller: James Devore
- Brokers: Joseph Spinella, Aidan Alverson, Trevor Sbarra - KW Commercial; Henry Eisenstein - EXP Realty
The deal involved multiple representatives, with Joseph Spinella, Aidan Alverson, and Trevor Sbarra representing KW Commercial, while Henry Eisenstein represented EXP Realty in the transaction. Joseph Spinella is the Director of Commercial Real Estate at KW and is available for assistance in commercial real estate transactions.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$102,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,839.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,125.48
Annual Debt Service$109,505.79
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