Jason Moldoff Purchases Multifamily Property From Irvin Pena In Lake Worth Beach For $3.27M
1002 9th Avenue North
$3,270,000
$259/SF
Building Size
12,600 SF
Asset Type
MultiFamily
Closing
Oct 30, 2024
AI
This multifamily property is located at 1002 9th Avenue North in Lake Worth Beach, consisting of twelve units and built in 2020. The property spans a total area of 12,600 square feet and sits on a 20,000 square foot lot. It was sold for a price of $3,270,000, which translates to a price per square foot of $259.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,270,000
- Sale Date: 10/30/2024
- Buyer: Jason Moldoff
- Seller: Irvin Pena
- Brokers: Michael Fernandez & Mario Fernandez - Florida Realty of Miami
- Market: Lake Worth Beach
- Square Footage: 12,600
- Price Per Square Foot: $259
- Lot Size: 20,000 sqft
Mario and Michael Fernandez played a pivotal role in facilitating this transaction, leveraging their extensive network to successfully locate the buyer. The transaction highlights the growing demand for multifamily properties in the Lake Worth Beach market.
Players
Lake Worth Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.85%
Cash-on-Cash
-1.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93