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1500 West Bay Drive, Largo,...

Marcus & Millichap Sells Multifamily Property In Largo For $6.2M
SOLDMultiFamily

Marcus & Millichap Sells Multifamily Property In Largo For $6.2M

1500 West Bay Drive, Largo, Florida 33770, United States

$6,235,000

$239,807/SF

Building Size

26 SF

Asset Type

MultiFamily

Closing

Jan 18, 2023

AI

The multifamily property located at 1500 W. Bay Drive in Largo has been sold in a recent transaction. The sale took place on January 18, 2023. The property spans an area of 0.9 acres, providing ample space for residents.

Summary of transaction details

  • Property Type: Multifamily
  • Sale Price: $6,235,000
  • Number of Units: 39
  • Price per Unit: $159,872
  • Total Square Footage: 26,845
  • Price per Square Foot: $232
  • Address: 1500 W. Bay Drive
  • Market: Largo

The sale was facilitated by a team of brokers from Marcus & Millichap. The team includes Sebastian Harris, Adam Podbelski, Duane C. Anderson, Ned Roberts, and Jason Hague. Their expertise and representation were invaluable in completing the transaction successfully. They worked diligently to ensure a smooth process for all parties involved.

Players

Adam Podbelski

Marcus & Millichap

Broker

$130.8M

vol

19 deals

Broker

Largo 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

2.54%

Cash-on-Cash

-0.73%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93