Opal Investment Group Acquires Westfield Gardens Apartments In Camden, NJ For $5M
SOLD
$5,000,000
New Jersey
See Similar DealsMultiFamily68,000 SF
Sold 10/05/2021
SOLD
Opal Investment Group Acquires Westfield Gardens Apartments In Camden, NJ For $5M
Camden, New Jersey, United States
See Similar DealsMultiFamily68,000 SF
Sold 10/05/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$73
Total Square Footage:68,000 SF
Transaction Type:Sale
Westfield Gardens Apartments, located in Camden, NJ, has recently been sold. The multifamily property consists of 73 residential units, 2 commercial units, and 24 garages. With a total square footage of 68,000, this property offers spacious living spaces to its residents. The transaction took place on October 5, 2021.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Units: 99
- Price per Unit (PPU): $50,505
- Total Square Footage: 68,000
- Price per Square Foot (PPSF): $74
- Address: Westfield Gardens Apartments, Camden, NJ
- Market: Camden, NJ
The buyer of the property is Opal Investment Group, while the seller is Cjnc LLC. This successful transaction is a testament to the value and potential of Westfield Gardens Apartments. Opal Investment Group's expertise and Cjnc LLC's willingness to sell have resulted in this mutually beneficial deal.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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