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
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