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Ocean Waterway Co-Op Acquires Mobile Home Park In Dania Beach For $7.8M

Property Image
SOLD
$7,800,000

Florida

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Sold 08/30/2022
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Property Image
SOLD

Ocean Waterway Co-Op Acquires Mobile Home Park In Dania Beach For $7.8M

1500 Old Griffin Road, Dania Beach, Florida 33004, United States

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Sold 08/30/2022
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Summary

FLORIDA
Transaction Type:Sale

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.

Players

Genworth Financial
Genworth Financial
LENDER

Details

SOLD
IMAGE: 08/30/2022 ADDRESS: 1500 Old Griffin Road MARKET: Dania Beach ASSET TYPE: Mobile Home Park ~ ACRES: 27 BUYER: Ocean Waterway Co-Op - Jacques Letendre SELLER: Amy Fletcher, James Branham, Dewey Daniel & David Daniel III LENDER: Genworth Life Insurance Company SALE PRICE: $7,800,000

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$27,711.76
Cash-on-Cash Return-1.27%
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