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1045 Cocoanut Avenue, Saras...

Adam Podbelski, Ned Roberts, Jason Hague & Sam Ferguson Acquire Multifamily Property In Sarasota For $3.9M
SOLDMultiFamily

Adam Podbelski, Ned Roberts, Jason Hague & Sam Ferguson Acquire Multifamily Property In Sarasota For $3.9M

1045 Cocoanut Avenue, Sarasota, FL 34236, USA

$3,900,000

$241/SF

Building Size

16,182 SF

Asset Type

MultiFamily

Closing

Apr 19, 2021

AI

1045 Cocoanut Ave, a multifamily property located in Sarasota, was recently sold for $3,900,000. The transaction took place on 04/20/2021 and involved a total of 29 units, with a price per unit of $134,483. The property is situated in the Sarasota market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,900,000
  • Units: 29
  • Price Per Unit: $134,483

The sale of 1045 Cocoanut Ave was facilitated by Marcus & Millichap, with brokers Adam Podbelski, Ned Roberts, Jason Hague, and Sam Ferguson representing the parties involved in the transaction.

Players

Adam Podbelski

Marcus & Millichap

Broker

$130.8M

vol

19 deals

Broker

Sarasota 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

4.07%

Cash-on-Cash

-1.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93