Rosewood Realty Group Brokers Secure $1.7M Sale Of Multifamily Property In Atlantic City
SOLD
$1,725,000
New Jersey
See Similar DealsMultiFamily18,000 SF
Sold 11/25/2022
SOLD
Rosewood Realty Group Brokers Secure $1.7M Sale Of Multifamily Property In Atlantic City
108-110 Lincoln Pl, Atlantic City, NJ 08401
See Similar DealsMultiFamily18,000 SF
Sold 11/25/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$95
Total Square Footage:18,000 SF
Transaction Type:Sale
The multifamily property located at 108-110 Lincoln Place in Atlantic City, NJ has been sold for $1,725,000. The property consists of 24 units with an average price per unit of $71,875. The total square footage of the property is 18,000, resulting in a price per square foot of $96.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,725,000
- Units: 24
- Price per Unit: $71,875
- Square Footage: 18,000
- Price per Square Foot: $96
- Address: 108-110 Lincoln Place, Atlantic City, NJ
- Market: Atlantic City, NJ
The sale of 108-110 Lincoln Place was facilitated by Greg Corbin and Felix Ades of Rosewood Realty Group. They represented the buyer and seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$91,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,128.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,177.38
Annual Debt Service$98,128.56
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