ApexOne Investment Partners Acquires Multifamily Property In Jacksonville For $65.8M
SOLD
Florida
See Similar DealsMultiFamily1,448 SF
Sold 05/31/2022
SOLD
ApexOne Investment Partners Acquires Multifamily Property In Jacksonville For $65.8M
11723 Wells Creek Parkway, Jacksonville, Florida 32256, United States
See Similar DealsMultiFamily1,448 SF
Sold 05/31/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$45,442
Total Square Footage:1,448 SF
Transaction Type:Sale
11723 Wells Creek Parkway in Jacksonville has been sold in a recent transaction. The property is a multifamily asset and was sold for a total price of $65,800,000. It consists of 280 units, and the price per unit comes out to be $235,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $65,800,000
- Address: 11723 Wells Creek Parkway
- Market: Jacksonville
- Buyer: ApexOne Investment Partners - Jim Hearn & Tim Burns
- Seller: Jax Philips Hwy Apts LLC
- Units: 280
- Price Per Unit: $235,000
The buyers of 11723 Wells Creek Parkway were ApexOne Investment Partners, represented by Jim Hearn & Tim Burns. The seller was Jax Philips Hwy Apts LLC.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,509,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$233,773.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$311,925.57
Annual Debt Service$3,743,106.84
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