Coltown Properties Acquires 369-Unit Multifamily In Tampa For $14.7M
SOLD
$14,700,000
Florida
See Similar DealsMultiFamily4,976 SF
Sold 10/02/2020
SOLD
Coltown Properties Acquires 369-Unit Multifamily In Tampa For $14.7M
10610 N 30th St, Tampa, FL 33612, USA
See Similar DealsMultiFamily4,976 SF
Sold 10/02/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$2,954
Total Square Footage:4,976 SF
Transaction Type:Sale
Coltown Properties has recently acquired a multifamily property located at 10610 N. 30th Street in Tampa. The transaction was facilitated by CBRE brokers Francesco Carriera and Michael Regan. The property consists of 369 units and was sold by TLR Group for a total price of $14,700,000. This translates to a price per unit of $39,837.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,700,000
- Address: 10610 N. 30th Street, Tampa
- Market: Tampa
- Buyer: Coltown Properties
- Seller: TLR Group
- Brokers: Francesco Carriera & Michael Regan – CBRE
- Units: 369
- Price per Unit: $39,837
This transaction not only demonstrates Coltown Properties' expansion in the Tampa market but also highlights the effectiveness of CBRE brokers Francesco Carriera and Michael Regan in facilitating successful deals within the multifamily sector.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$784,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$52,225.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$69,685.50
Annual Debt Service$836,226.00
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