Francisco Rodriguez Melo, Stefano Garofoli & Costantino Cicchelli Acquire Multifamily Property In Fort Myers For $4.25M
3604 Seminole Ave
$4,250,000
Units
4,250,000
Asset Type
—
Closing
Jul 20, 2022
About this deal
AI
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.
On the Map
$4,250,000
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Players
Fort Myers CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.73%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93