RPH Multifamily Group - Marcus & Millichap Sells 37-Unit Multifamily Property In Venice For $5.75M
SOLD
$5,750,000
+ 1
Florida
See Similar DealsMultiFamily33,694 SF
Sold 12/19/2021
SOLD
RPH Multifamily Group - Marcus & Millichap Sells 37-Unit Multifamily Property In Venice For $5.75M
1 Plaza Mayor, Venice, Florida 34285, United States
See Similar DealsMultiFamily33,694 SF
Sold 12/19/2021
+ 1
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$170
Total Square Footage:33,694 SF
Transaction Type:Sale
The multifamily property located at 1 Plaza Mayor in Venice has been sold. The transaction took place on December 19, 2021. The property consists of 37 units and was sold for a total price of $5,750,000, resulting in an average price per unit of $155,405. The sale was facilitated by Adam Podbelski, Ned Roberts, Jason Hague, and Sam Ferguson of RPH Multifamily Group, who represented the buyers and sellers in the deal. RPH Multifamily Group is affiliated with Marcus & Millichap.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,750,000
- Address: 1 Plaza Mayor, Venice
- Market: Venice
- Units: 37
- Price Per Unit: $155,405
The transaction was successfully executed with the assistance of Adam Podbelski, Ned Roberts, Jason Hague, and Sam Ferguson, who are affiliated with RPH Multifamily Group, a brokerage firm associated with Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$306,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,428.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,257.93
Annual Debt Service$327,095.20
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