Ocean Waterway Co-Op Acquires Mobile Home Park In Dania Beach For $7.8M
1500 Old Griffin Road, Dania Beach, Florida 33004, United States
$7,800,000
Building Size
—
Asset Type
—
Closing
Aug 29, 2022
About this deal
AI
The mobile home park located at 1500 Old Griffin Road in Dania Beach has been sold. The property spans across 27 acres and was purchased for a total of $7,800,000. The sale took place on August 30, 2022.
Summary of transaction details
- Property Type: Mobile Home Park
- Transaction Amount: $7,800,000
- Address: 1500 Old Griffin Road, Dania Beach
- Market: Dania Beach
- Buyer: Ocean Waterway Co-Op - Jacques Letendre
- Seller: Amy Fletcher, James Branham, Dewey Daniel & David Daniel III
- Lender: Genworth Life Insurance Company
Ocean Waterway Co-Op, represented by Jacques Letendre, acquired the mobile home park from sellers Amy Fletcher, James Branham, Dewey Daniel, and David Daniel III. The transaction was financed by Genworth Life Insurance Company.
On the Map
$7,800,000
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93