Updated Oct 28, 2024
RSE Capital Partners Acquires Multifamily Property In Tarpon Springs For $65.65M
1185 South Pinellas Avenue, Tarpon Springs, FL 34689
$65,650,000
$50,152/SF
Building Size
1,309 SF
Asset Type
MultiFamily
Closing
Oct 20, 2021
About this deal
AI
The multifamily property located at 1185 South Pinellas Ave in Tarpon Springs has been sold in a recent transaction. The property spans approximately 6.5 acres in size.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $65,650,000
- Number of Units: 236
- Price Per Unit: $278,179
RSE Capital Partners has acquired the property from the sellers, which include DDA Development represented by Bowen Arnold, Backstreets Capital, and Atlantic American Partners. The brokerage services for the deal were provided by Walker & Dunlop.
On the Map
$65,650,000
$50,152/SF
MultiFamily
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Players
Tarpon Springs 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93