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Francisco Rodriguez Melo, Stefano Garofoli & Costantino Cicchelli Acquire Multifamily Property In Fort Myers For $4.25M

Property Image
SOLD
$4,250,000
AR
Stefano Garofoli

Florida

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Sold 07/20/2022
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Property Image
SOLD

Francisco Rodriguez Melo, Stefano Garofoli & Costantino Cicchelli Acquire Multifamily Property In Fort Myers For $4.25M

3604 Seminole Ave

See Similar Deals
Sold 07/20/2022
AR
Stefano Garofoli
the dealplayerscompscontact
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Summary

FLORIDA
Transaction Type:Sale

The multifamily property located at 3604 Seminole Ave in Fort Myers has been sold in a closed transaction. The property consists of 68 units with a total square footage of 54,334. The sale price for this transaction was $4,250,000, resulting in a price per unit (PPU) of $62,500 and a price per square foot (PPSF) of $78.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $4,250,000
  • Units: 68
  • Price per Unit: $62,500
  • Total Square Footage: 54,334
  • Price per Square Foot: $78
  • Address: 3604 Seminole Ave, Fort Myers

The buyer of this property includes Francisco Rodriguez Melo, Stefano Garofoli, and Costantino Cicchelli from Brickone. The seller is Adan Rounds from Cypress Courts Ltd. The sale was facilitated by Gema Ruiz and Francisco Rodriguez Melo from Cedano Realty Advisors.

Players

B
Brickone
BUYER
Stefano Garofoli
Stefano Garofoli
9 deals$34M volume
BUYER
B
Brickone
BUYER
AR
Adan Rounds
2 deals$8.5M volume
SELLER

Details

SOLD
IMAGE: Costantino Cicchelli, Francisco Rodriguez Melo & Stefano Garofoli DATE: 07/20/2022 ADDRESS: 3604 Seminole Ave MARKET: Fort Myers ASSET TYPE: Multifamily BUYER: Francisco Rodriguez Melo (@Cybmelo), Stefano Garofoli & Costantino Cicchelli - Brickone SELLER: Adan Rounds - Cypress Courts Ltd. BROKER: Gema Ruiz & Francisco Rodriguez Melo - Cedano Realty Advisors SALE PRICE: $4,250,000 UNITS: 68 ~ PPU: $62,500 SF: 54,334 ~ PPSF: $78

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$226,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,099.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,147.17
Annual Debt Service$241,766.02