Rob Bellamy And Tony Azzi Of Vita Equities Acquire Venice Multifamily For $2.8M
36 Rose Avenue & 38 Rose Avenue
$2,800,000
$227/SF
Building Size
12,310 SF
Asset Type
MultiFamily
Closing
Jan 24, 2025
AI
The transaction involved a multifamily property located at 36 & 38 Rose Avenue in the Venice market. The sale price was $2,800,000, and the asset comprises 10 units. The total square footage of the property is 6,155, translating to a price per unit of $280,000 and a price per square foot of $454.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,800,000
- Units: 10
- Square Footage: 6,155
- Price Per Unit: $280,000
- Price Per Square Foot: $454
- Buyer: Rob Bellamy & Tony Azzi - Vita Equities
- Seller: Bruce Bisenz
- Broker: Jeff Puffer - Delphi Business Properties Inc
Rob Bellamy and Tony Azzi represented Vita Equities as the buyers in this transaction, whereas Bruce Bisenz was the seller. Jeff Puffer from Delphi Business Properties Inc facilitated the deal, acting as the broker in this transaction.
Players
Venice MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93