Florida Investor Acquires 7 Fractured Condos In Grand Isles Condominiums For $1.5M
4145 North Haverhill Road West Palm Beach, FL 33417, USA
$1,505,000
Units
7
Asset Type
Condo
Closing
Sep 11, 2023
About this deal
AI
A Florida-based private investor has acquired seven fractured condos in Grand Isles Condominiums in West Palm Beach. The all-cash sale, facilitated by Marcus & Millichap, was closed at a total price of $1,505,000. The buyer benefited from this bulk purchase by acquiring the condos at a lower unit price compared to individual sales in the community. The property is located at 4145 North Haverhill Road and consists of seven units.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $1,505,000
- Address: 4145 North Haverhill Road
- Market: West Palm Beach
Marcus & Millichap played a crucial role in facilitating the transaction of these seven fractured condos. Evan Richardson, Daniel Cunningham, River Rhoads, and Dillon Majeski from Marcus & Millichap served as the brokers representing both the buyer and the seller. Their expertise in the West Palm Beach market contributed to the successful completion of this deal.
Players
West Palm Beach Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $215K per unit across 7 units on a published $1.5M (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.54%
Cash-on-Cash
-3.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93