Chris Vitiello & Gregory Edgell Of Grid Real Estate Represent Sale Of Jersey City Multifamily For $1.45M
SOLD
$1,450,000
New Jersey
See Similar DealsMultiFamily6,600 SF
Sold 02/24/2025
SOLD
Chris Vitiello & Gregory Edgell Of Grid Real Estate Represent Sale Of Jersey City Multifamily For $1.45M
38 Zabriskie Street
See Similar DealsMultiFamily6,600 SF
Sold 02/24/2025
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$219
Total Square Footage:6,600 SF
Transaction Type:Sale
The property located at 38 Zabriskie Street in Jersey City is a multifamily asset comprising 6 units. The total sale price for this property was $1,450,000, with a price per unit of $241,666. The building has a total square footage of 6,600, resulting in a price per square foot of $219.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,450,000
- Units: 6
- Square Footage: 6,600
- Price Per Unit: $241,666
- Price Per Square Foot: $219
- Broker Representatives: Chris Vitiello & Gregory Edgell - Grid Real Estate
GRID Real Estate successfully secured a buyer for the property within 2 days of it going to market. They encourage potential clients to reach out if they are buying or selling property in Hudson, Essex, or Morris County.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$77,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,151.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,873.74
Annual Debt Service$82,484.88
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