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1115 Pinellas Street, Clear...

Marcus & Millichap Facilitates $3.65M Sale Of 44-Unit Multifamily Property In Clearwater
SOLDMultiFamily

Marcus & Millichap Facilitates $3.65M Sale Of 44-Unit Multifamily Property In Clearwater

1115 Pinellas Street, Clearwater, FL, USA

$3,650,000

$454/SF

Building Size

8,033 SF

Asset Type

MultiFamily

Closing

Feb 23, 2021

AI

A multifamily property located at 1115 Pinellas St in Clearwater was recently sold for $3,650,000. The property consists of 44 units, resulting in a price per unit of $82,955. The transaction took place on February 24, 2021. The sale was facilitated by Ned Roberts, Sebastian Harris, Jason Hague, and Adam Podbelski of Marcus & Millichap.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,650,000
  • Units: 44
  • Price per Unit: $82,955
  • Address: 1115 Pinellas St
  • Market: Clearwater

The sale of the property was managed by Ned Roberts, Sebastian Harris, Jason Hague, and Adam Podbelski, who are representatives of Marcus & Millichap. This transaction highlights the expertise and commitment of these brokers in facilitating successful real estate deals in the Clearwater market.

Players

Adam Podbelski

Marcus & Millichap

Broker

$130.8M

vol

19 deals

Broker

Clearwater 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

4.35%

Cash-on-Cash

-1.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93