Updated Oct 28, 2024
Blue Ocean Assets Acquires Multifamily Property In Jacksonville For $3.6M
1035 Arco Drive, Jacksonville, FL, USA
$3,600,000
$379/SF
Building Size
9,484 SF
Asset Type
MultiFamily
Closing
May 12, 2020
About this deal
AI
Blue Ocean Assets has acquired a multifamily property located at 1035 Arco Drive in Jacksonville. The property, sold by Fort Arco Place LLC, was brokered by John Rutherford and Luke McCann of NAI Hallmark. The transaction took place on May 12, 2021, and the sale price was $3,600,000. The multifamily asset consists of 49 units, with an average price per unit of $73,469.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,600,000
- Address: 1035 Arco Drive
- Market: Jacksonville
- Buyer: Blue Ocean Assets
- Seller: Fort Arco Place LLC
- Brokers: John Rutherford & Luke McCann - NAI Hallmark
- Units: 49
- Price per Unit: $73,469
John Rutherford and Luke McCann of NAI Hallmark played significant roles as brokers in facilitating this transaction. Their expertise and negotiation skills contributed to the successful sale of the multifamily property.
Players
Jacksonville 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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93