Onyx Funding Refinances 112-Unit MultiFamily Property In Jacksonville With $10.3M Loan
830 Arlington River Drive
$10,318,000
$107/SF
Building Size
95,723 SF
Asset Type
MultiFamily
Closing
Nov 30, 2023
AI
A multifamily property located at 830 Arlington River Drive in Jacksonville has recently undergone a refinancing transaction. The property consists of 112 units, covering a total area of approximately 95,723 square feet.
Summary of transation details
- Property Type: MultiFamily
- Transaction Amount: $10,318,000
- Address: 830 Arlington River Drive
- Market: Jacksonville
- Units: 112
- Size: 95,723 square feet
The lender for this refinancing deal is Onyx Funding, with Daniel Taylor representing the company. The loan was provided in the amount of $10,318,000 with a loan type of Refinance. The loan terms include a 5.86% interest rate, 5 years of interest-only payments, and a 10-year term with non-recourse obligation.
Players
Jacksonville 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
1.54%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93