Robbins Real Estate Acquires 147-Unit Multifamily In Jacksonville For $35.4M
SOLD
$35,375,000
Florida
See Similar DealsMultiFamily152,721 SF
Sold 07/12/2020
SOLD
Robbins Real Estate Acquires 147-Unit Multifamily In Jacksonville For $35.4M
1444 Home St, Jacksonville, FL, USA
See Similar DealsMultiFamily152,721 SF
Sold 07/12/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$231
Total Square Footage:152,721 SF
Transaction Type:Sale
An investment property located at 1444 Home St. in Jacksonville has been sold in a recent transaction. The multifamily asset, consisting of 147 units, was purchased by Robbins Real Estate for a total sale price of $35,375,000. This equates to an average price per unit of $240,646. The sale was facilitated by Newmark, with Erik Bjornson and Tyler Nilsson serving as brokers.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $35,375,000
- Units: 147
- Price Per Unit: $240,646
Catalyst Development Partners, represented by Rob Meyer, acted as the seller in this transaction. The involvement of Catalyst Development Partners highlights their role in the deal. Erik Bjornson and Tyler Nilsson from Newmark served as brokers, facilitating the transaction between the buyer, Robbins Real Estate, and the seller.
Players
BROKERAGE
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,886,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$125,679.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$167,695.55
Annual Debt Service$2,012,346.57
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