SB Real Estate Capital LLC Acquires 157-Unit Multifamily Property In Homestead For $31M From Seller Justin Toal
SOLD
$31,000,000
Florida
See Similar DealsMultiFamily1,501 SF
Sold 04/26/2021
SOLD
SB Real Estate Capital LLC Acquires 157-Unit Multifamily Property In Homestead For $31M From Seller Justin Toal
1140 Southeast 24th Road, Homestead, FL 33035, USA
See Similar DealsMultiFamily1,501 SF
Sold 04/26/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$20,652
Total Square Footage:1,501 SF
Transaction Type:Sale
An multifamily property located at 1140 SE 24th Road in Homestead has been sold for a price of $31,000,000. The property consists of 157 units, resulting in a price per unit of $197,452. The sale transaction took place on 04/26/2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $31,000,000
- Address: 1140 SE 24th Road, Homestead
- Market: Homestead
- Buyer: SB Real Estate Capital LLC
- Seller: Fifteen Group - Justin Toal
- Units: 157
- Price per Unit: $197,452
Michael Sprotzer, Justin Toal, and Jay Bailyn were involved in the transaction as representatives.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,653,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$110,136.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$146,955.82
Annual Debt Service$1,763,469.79
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