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
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