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John D Bols Acquires Multifamily Property From Tommi Kuutti In Palm Beach Shores For $1.8M

Property Image
SOLD
$1,800,000

Florida

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MultiFamily3,541 SF
Sold 12/11/2024
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Property Image
SOLD

John D Bols Acquires Multifamily Property From Tommi Kuutti In Palm Beach Shores For $1.8M

113 Edwards Lane

See Similar Deals
MultiFamily3,541 SF
Sold 12/11/2024
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$508
Total Square Footage:3,541 SF
Transaction Type:Sale

This multifamily property is located at 113 Edwards Lane in the Palm Beach Shores market. The sale price of the asset was $1,800,000, with a total of 7 units. The property spans a square footage of 3,541 and has a price per square foot of $508, resulting in a price per unit of $257,143.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,800,000
  • Units: 7
  • Square Footage: 3,541
  • Price per Square Foot: $508
  • Price per Unit: $257,143
  • Buyer: John D Bols
  • Seller: Tommi Kuutti
  • Broker: Nelson Ilceus - Colliers
  • Date of Sale: 12/11/2024

John D Bols acted as the buyer in this transaction, while Tommi Kuutti was the seller. The real estate transaction was facilitated by broker Nelson Ilceus from Colliers, representing either the buyer or seller in the deal.

Players

Nelson Ilceus
Colliers
Nelson Ilceus
13 deals$39.4M volume
BROKER

Details

SOLD
IMAGE: Nelson Ilceus DATE: 12/11/2024 ADDRESS: 113 Edwards Lane MARKET: Palm Beach Shores ASSET TYPE: Multifamily BUYER: John D Bols SELLER: Tommi Kuutti BROKER: Nelson Ilceus (@NelsonIlceus_f) - Colliers (@ColliersInternational) SALE PRICE: $1,800,000 UNITS: 7 ~ PPU: $257,143 SF: 3,541 ~ PPSF: $508

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$96,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02