FRMF Jax Acquires Multifamily Property In Jacksonville For $66.25M
12517 Beach Boulevard, Jacksonville, FL, USA
$66,250,000
$48,820/SF
Building Size
1,357 SF
Asset Type
MultiFamily
Closing
Apr 5, 2021
AI
A multifamily property located at 12517 Beach Boulevard in Jacksonville was recently sold. The property, consisting of 301 units, was acquired by FRMF Jax, LLC for a total price of $66,250,000. This translates to an average price per unit of $220,100. The transaction took place on April 6, 2021.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $66,250,000
- Address: 12517 Beach Boulevard
- Market: Jacksonville
- Units: 301
- Price per Unit: $220,100
The seller in this deal was Waypoint Real Estate Investments, represented by Scott Lawlor. Scott Lawlor works for Waypoint Real Estate Investments as their representative. The transaction was completed on behalf of the buyer, FRMF Jax, LLC.
Jacksonville 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