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Fincapital Investments Acquires Multifamily In Jacksonville For $8.5M

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SOLD
$8,500,000

Florida

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MultiFamily
Sold 04/27/2022
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SOLD

Fincapital Investments Acquires Multifamily In Jacksonville For $8.5M

1135 Bert Road, Jacksonville, Florida 32211, United States

See Similar Deals
MultiFamily
Sold 04/27/2022
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 1135 Bert Road and 7210-7220 Parker School Road in Jacksonville has been sold in a recent transaction. The property spans across 3.16 acres and consists of 78 units. The sale was facilitated by Luke McCann and John Rutherford of NAI Hallmark, who represented the buyer, Fincapital Investments, and the seller, TASS Investments. The transaction closed on April 27, 2022, with a sale price of $8,500,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Sale Price: $8,500,000
  • Number of Units: 78
  • Price Per Unit: $108,974
  • Address: 1135 Bert Road & 7210-7220 Parker School Road, Jacksonville
  • Market: Jacksonville
  • Broker: Luke McCann & John Rutherford - NAI Hallmark

Fincapital Investments, the buyer in this transaction, acquired the property from TASS Investments. Luke McCann and John Rutherford of NAI Hallmark represented both parties in the deal. The sale of this multifamily property signifies a significant investment in the Jacksonville market, further contributing to the growth and development of the area.

Players

John Rutherford
18 deals$191.8M volume
BROKER

Luke McCann
NAI Global
19 deals$163.4M volume
BROKER

BUYER

Details

SOLD
IMAGE: Luke McCann & John Rutherford DATE: 04/27/2022 ADDRESS: 1135 Bert Road & 7210-7220 Parker School Road MARKET: Jacksonville ASSET TYPE: Multifamily ~ ACRES: 3.16 BUYER: Fincapital Investments (@FinCapitalInvest) SELLER: TASS Investments BROKERS: Luke McCann (@LukeMcCann) & John Rutherford - NAI Hallmark (@NaiHallmark) SALE PRICE: $8,500,000 UNITS: 78 ~ PPU: $108,974

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

$453,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04