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896 Apache Road

Michael Luna Acquires Single Family Home On Apache Road In Franklin Lakes For $2.8M
SOLDSingle Family

Michael Luna Acquires Single Family Home On Apache Road In Franklin Lakes For $2.8M

896 Apache Road

$2,825,000

$391/SF

Building Size

7,224 SF

Asset Type

Single Family

Closing

Sep 28, 2023

AI

The property at 896 Apache Road in Franklin Lakes has been sold in a closed transaction. This single-family home spans 7,224 square feet and is located in the desirable Franklin Lakes market. The sale price for this property was $2,825,000, with a price per square foot of $391.

Summary of transaction details

  • Property Type: Single Family
  • Transaction Amount: $2,825,000
  • Address: 896 Apache Road
  • Market: Franklin Lakes

Michael Luna purchased the property from Jin W. Jun. Representing the buyer, Michael Todaro from Michael Properties - Golden Image Realty (GoldenImageRealtyRamsey) facilitated the transaction. Grazyna Ziarko and John Kuhn from Christie's International Real Estate served as the seller's representatives.

An important note is that the property was initially listed for $2,999,999 but ultimately sold for $2,825,000.

Players

Michael Todaro

Serhant

Broker

$26.3M

vol

13 deals

Broker

Franklin Lakes Single Family Market Snapshot

Boundary boundary · Single Family · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.62%

Cash-on-Cash

-1.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93