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113 Edwards Lane

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

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

113 Edwards Lane

$1,800,000

$508/SF

Building Size

3,541 SF

Asset Type

MultiFamily

Closing

Dec 11, 2024

AI

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

Broker

$39.4M

vol

13 deals

Broker

Palm Beach Shores 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

8.81%

Cash-on-Cash

-2.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93