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Alejandro Gershanik Acquires MultiFamily Property In Riviera Beach For $1.92M

Property Image
SOLD
$1,920,000
Alec Bashein
Travis Jones
+ 1

Florida

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MultiFamily8,423 SF
Sold 07/21/2023
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Property Image
SOLD

Alejandro Gershanik Acquires MultiFamily Property In Riviera Beach For $1.92M

1409 W 31st St West Palm Beach, FL 33404, USA

See Similar Deals
MultiFamily8,423 SF
Sold 07/21/2023
Alec Bashein
Travis Jones
+ 1
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$227
Total Square Footage:8,423 SF
Transaction Type:Sale

Located in Riviera Beach, the multi-family property at 1409, 1425, and 1433 West 31st Street has been sold in a recent transaction. The property consists of 12 units, totaling 8,423 square feet. The sale price for this asset was $1,920,000, resulting in a per unit price of $160,000. With a price per square foot of $228, this property offers a lucrative investment opportunity in the Riviera Beach market.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $1,920,000
  • Units: 12
  • Price per Unit: $160,000
  • Square Footage: 8,423
  • Price per Square Foot: $228
  • Market: Riviera Beach

Alejandro Gershanik successfully acquired this property, acting as the buyer in the deal. On the other hand, Menachem Tiefenbrun served as the seller. Alejandro Gershanik was also the buyer's representative, representing BM2 Realty. Travis Jones and Alec Bashein of Horvath & Tremblay acted as the seller's representatives, facilitating the transaction between Alejandro Gershanik and Menachem Tiefenbrun. This successful sale highlights the expertise and professional connections of the involved brokers, ensuring a smooth transaction for all parties involved.

Players

Travis Jones
9 deals$45.5M volume
BROKER

Alec Bashein
Horvath & Tremblay
5 deals$17.4M volume(305) 728-5926
BROKER

Alejandro Gershanik
BM2 Realty
34 deals$94.9M volume
BUYER

Details

SOLD
IMAGE: Travis Jones, Alejandro Gershanik & Alec Bashein DATE: 07/21/2023 ADDRESS: 1409, 1425, 1433 West 31st Street MARKET: Riviera Beach ASSET TYPE: MultiFamily BUYER: Alejandro Gershanik SELLER: Menachem Tiefenbrun BUYER'S REP: Alejandro Gershanik - BM2 Realty (@bm2_realty) SELLER'S REP: Travis Jones & Alec Bashein - Horvath & Tremblay SALE PRICE: $1,920,000 UNITS: 12 ~ PPU: $160,000 SF: 8,423 ~ PPSF: $228

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$102,400.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,821.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,101.78
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