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11181 Royal Palm Boulevard

Lincoln Germain Acquires MultiFamily Property In Coral Springs For $2.2M
SOLDMultiFamily

Lincoln Germain Acquires MultiFamily Property In Coral Springs For $2.2M

11181 Royal Palm Boulevard

$2,200,000

$266/SF

Building Size

8,243 SF

Asset Type

MultiFamily

Closing

Sep 15, 2023

AI

A multi-family property located at 11181 Royal Palm Boulevard in Coral Springs has been sold for $2,200,000. The property consists of 8 units, with a price per unit of $275,000. The total square footage of the property is 8,243, resulting in a price per square foot of $267.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $2,200,000
  • Units: 8
  • Price Per Unit: $275,000
  • Square Footage: 8,243
  • Price Per Square Foot: $267
  • Address: 11181 Royal Palm Boulevard
  • Market: Coral Springs

The buyer of the property was Lincoln Germain, while the seller was Roger Lannucci. The deal was facilitated by Nelson Ilceus from Colliers International and Natalie Jamal from Compass. Nelson Ilceus represented the buyer and Natalie Jamal represented the seller in this transaction.

Players

Nelson Ilceus

Colliers

Broker

$39.4M

vol

13 deals

Broker

Market 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

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93