Updated Dec 19, 2023
Marcus & Millichap Capital Corporation Arranges $9.8M Acquisition Loan For Multifamily Property In Fort Walton Beach
480 Santa Rosa Boulevard, Fort Walton Beach, Florida 32548, United States
$9,847,000
Units
69
Asset Type
MultiFamily
Closing
Oct 12, 2022
About this deal
AI
The multifamily property located at 480 Santa Rosa Blvd in Fort Walton Beach recently underwent a transaction. The property consists of 69 units and was acquired through an acquisition loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,847,000
- Address: 480 Santa Rosa Blvd
- Market: Fort Walton Beach
- Loan Type: Acquisition Loan
- Loan Terms: 75% LTV, 10-year term, 5-year interest-only, and 30-year amortization
- Broker: Robert Bhat - Marcus & Millichap Capital Corporation
Robert Bhat, representing Marcus & Millichap Capital Corporation, facilitated the transaction. The loan amount for the acquisition was $9,847,000, with the loan terms including a 75% loan-to-value (LTV) ratio, a 10-year term, a 5-year interest-only period, and a 30-year amortization schedule.
Fort Walton Beach 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
1.61%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93