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1506 Federal Highway

John D. Bols Acquires 6-Unit Multifamily In Lake Worth Beach For $1.15M
SOLDMultiFamily

John D. Bols Acquires 6-Unit Multifamily In Lake Worth Beach For $1.15M

1506 Federal Highway

$1,150,000

$205/SF

Building Size

5,600 SF

Asset Type

MultiFamily

Closing

Mar 13, 2023

AI

The multifamily property located at 1506 Federal Highway in Lake Worth Beach has been sold in a recent transaction. The property consists of 6 units with a total of 5,600 square feet. The sale price for the property was $1,150,000, resulting in a price per unit of $191,667 and a price per square foot of $205.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,150,000
  • Units: 6
  • Price per Unit: $191,667
  • Square Footage: 5,600
  • Price per Square Foot: $205

John D. Bols has acquired the property from Tommi Kuutti. The transaction was facilitated by Nelson Ilceus of Colliers.

Players

Nelson Ilceus

Colliers

Broker

$39.4M

vol

13 deals

Broker

John D. Bols

Buyer

$13.1M

vol

6 deals

Buyer

Market 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

13.79%

Cash-on-Cash

-3.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93