Axonic Properties Acquires Multifamily Property In Largo For $9.6M
SOLD
$9,625,000
+ 1
Florida
See Similar DealsMultiFamily59,648 SF
Sold 12/17/2021
SOLD
Axonic Properties Acquires Multifamily Property In Largo For $9.6M
13200 Wilcox Road, Largo, FL 33774
See Similar DealsMultiFamily59,648 SF
Sold 12/17/2021
+ 1
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$161
Total Square Footage:59,648 SF
Transaction Type:Sale
The multifamily property located at 13200 Wilcox Rd in Largo has been sold. The transaction took place on 12/17/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,625,000
- Address: 13200 Wilcox Rd
- Market: Largo
The buyer of the property is Axonic Properties, represented by Jonathan Shechtman and Brian Kennedy. The seller is Homes Urban. The brokers involved in the deal are Jad Richa and Brian Hunsicker from Capstone Apartment Partners.
The property consists of 64 units with an average price per unit of $150,391. The total square footage of the property is 59,648, resulting in a price per square foot of $161.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$513,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,195.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,627.41
Annual Debt Service$547,528.93
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