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
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