Empire Magnolia Florida, LLC Acquires Multifamily In Melbourne For $3.9M
108 West Fee Avenue, Melbourne, Florida 32901, United States
$3,898,000
$192/SF
Building Size
20,256 SF
Asset Type
MultiFamily
Closing
Apr 30, 2022
AI
The multifamily property located at 108 West Fee Avenue in Melbourne has been sold. The transaction took place on May 1, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,898,000
- Address: 108 West Fee Avenue, Melbourne
- Market: Melbourne
The buyer, Empire Magnolia Florida, LLC, has acquired the property from the seller, Magnolia 108 LLC. The deal was facilitated by the brokers from RPH Multifamily Group - Marcus & Millichap, namely Duane Anderson, Ned Roberts, Adam Podbelski, and Jason Hague.
The property consists of 40 units, with a price per unit of $97,450. It spans a total area of 20,256 square feet, with a price per square foot of $192.
Players
Melbourne MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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