Updated Dec 4, 2024
Gallano Trust Acquires Multifamily Property In Bradenton From Multifamily Investment Club
1118 59th Avenue Circle East
$3,300,000
$194/SF
Building Size
17,010 SF
Asset Type
MultiFamily
Closing
Sep 8, 2023
About this deal
AI
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.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Sam Ferguson to view all their deals.
Browse Florida multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93