Updated Oct 28, 2024
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
$31,000,000
$20,652/SF
Building Size
1,501 SF
Asset Type
MultiFamily
Closing
Apr 25, 2021
About this deal
AI
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
Homestead 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
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93