Updated Oct 28, 2024
$11.05M Loan Secured For 124-Unit Multifamily In Oakland Park, Fort Lauderdale
4050 Northeast 1st Avenue, Oakland Park, Florida 33334, United States
$11,050,000
Units
124
Asset Type
MultiFamily
Closing
Apr 10, 2022
About this deal
AI
The multifamily property located at 4050 NE 1st Ave in Oakland Park, Fort Lauderdale, was recently involved in a closed transaction. The property consists of 124 units spread across its premises.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $11,050,000
- Loan Amount: $11,050,000
- Loan Terms: 15-year term and a 30-year amortization period
- Fixed Interest Rate
- Loan-to-Value (LTV): 55%
The lender for this transaction was greystone''>Greystone, represented by Kyle Jemtrud. The loan terms included a 15-year term and a 30-year amortization period, with a fixed interest rate and a loan-to-value (LTV) ratio of 55%. The landlord involved in the transaction was 61-34 Madison Real Estate LLC, represented by Sinisa Fljankovic.
These key individuals and companies played a crucial role in facilitating the deal, showcasing their expertise in the real estate market.
Players
Oakland Park MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93