Gallano Trust Acquires Multifamily Property In Bradenton From Multifamily Investment Club
SOLD
$3,300,000
Florida
See Similar DealsMultiFamily17,010 SF
Sold 09/08/2023
SOLD
Gallano Trust Acquires Multifamily Property In Bradenton From Multifamily Investment Club
1118 59th Avenue Circle East
See Similar DealsMultiFamily17,010 SF
Sold 09/08/2023
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$194
Total Square Footage:17,010 SF
Transaction Type:Sale
The multifamily property located at 1118 59th Avenue Circle East in Bradenton has been sold for a price of $3,300,000. The property consists of 18 units with an average price per unit of $183,333. The total square footage of the property is 17,010, with a price per square foot of $194.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,300,000
- Units: 18
- Price per Unit: $183,333
- Square Footage: 17,010
- Price per Square Foot: $194
The buyer in this transaction is Gallano Trust, represented by Alfredo Gallano. The seller is Multifamily Investment Club, with Sam Newell as their representative. The deal was brokered by Sam Ferguson of Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$175,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,643.68
Annual Debt Service$187,724.20
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