John J Raymond Jr Acquires Condo Unit In West Palm Beach For $4.7M
SOLD
$4,700,000
Florida
See Similar Deals830 SF
Sold 10/27/2021
SOLD
John J Raymond Jr Acquires Condo Unit In West Palm Beach For $4.7M
2649 Lake Drive, West Palm Beach, Florida, USA
See Similar Deals830 SF
Sold 10/27/2021
Summary
FLORIDA
Price Per Square Foot:$5,662
Total Square Footage:830 SF
Transaction Type:Sale
The property involved in this closed transaction is a condo unit located at 2649 Lake Dr, West Palm Beach, FL. It has an area of 830 square feet. The sale took place on October 27, 2021. The buyer, John J Raymond Jr, purchased the property from the seller, Texas Aquatic Harvesting Inc, for a total price of $4,700,000. The price per square foot for this transaction is approximately $5,663.
Summary of transaction details
- Property Type: Condo Unit
- Transaction Amount: $4,700,000
- Address: 2649 Lake Dr, West Palm Beach, FL
- Buyer: John J Raymond Jr
- Seller: Texas Aquatic Harvesting Inc
- Square Footage: 830
- Price per Square Foot: $5,663
This transaction involves the purchase of the condo unit by John J Raymond Jr from Texas Aquatic Harvesting Inc. The buyer and seller agreed to a price of $4,700,000, with a price per square foot of $5,663 for the 830 square foot property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$250,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,698.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,280.40
Annual Debt Service$267,364.77
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