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Gulfstream Apartments Dania Beach Sold For $8.9M In Multifamily Deal By Jacob Serure - SRE Commercial Group

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SOLD
$8,900,000

Florida

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MultiFamily61,361 SF
Sold 08/26/2021
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SOLD

Gulfstream Apartments Dania Beach Sold For $8.9M In Multifamily Deal By Jacob Serure - SRE Commercial Group

10 Northwest 10th Court, Dania Beach, FL, USA

See Similar Deals
MultiFamily61,361 SF
Sold 08/26/2021
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$145
Total Square Footage:61,361 SF
Transaction Type:Sale

Gulfstream Apartments Dania Beach, a 96 unit LIHTC property located at 10 NW 10th Court, has been sold in a recent transaction in Dania Beach. The multifamily asset features all 2 bedroom 1 bath units, central AC, and impact windows. The property spans a total of 61,361 square feet, with a sale price of $8,900,000. This equates to a price per square foot of $145.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,900,000
  • Address: 10 NW 10th Court
  • Market: Dania Beach

The sellers of Gulfstream Apartments Dania Beach are John Corbett and Hugh Jacobs. The transaction was facilitated by Jacob Serure from SRE Commercial Group, who represented the sellers in the deal. SRE Commercial Group is a reputable brokerage firm with over 15 years of experience in brokering multi-family deals. They have a strong track record in the commercial real estate market.

SRE Commercial Group's Founder Jacob Serure expressed pride in this recent sale. He stated that Gulfstream Apartments Dania Beach is a noteworthy property, offering a substantial number of LIHTC units with desirable features such as central AC and impact windows. The property's sale showcases SRE Commercial Group's expertise in brokering multi-family deals, and they are actively seeking agents interested in pursuing a career in commercial real estate.

Players

Jacob Serure
8 deals$84.3M volume
BROKER

Details

SOLD
IMAGE: Jacob Serure DATE: 08/26/2021 ADDRESS: 10 NW 10th Court MARKET: Dania Beach ASSET TYPE: Multifamily SELLER: John Corbett and Hugh Jacobs BROKER: Jacob Serure - SRE Commercial Group SALE PRICE: $8,900,000 SF: 61,361 ~ PPSF: $145 NOTE: SRE Commercial Group’s Founder Jacob Serure is proud to announce our most recent sale - Gulfstream Apartments Dania Beach, a 96 unit LIHTC property featuring of all 2 bedroom 1 bath units, central AC and impact windows. SRE Commercial Group has successfully been brokering multi-family deals for 15+ years. Agents, if you have interest in brokering commercial real estate, we are hiring.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$474,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,619.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,190.54
Annual Debt Service$506,286.49