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Benjamin Lipkin Acquires MultiFamily Property In West Palm Beach For $1.5M

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SOLD
$1,500,000

Florida

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MultiFamily10,000 SF
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SOLD

Benjamin Lipkin Acquires MultiFamily Property In West Palm Beach For $1.5M

1530 Crescent Cir West Palm Beach, FL 33403, USA

See Similar Deals
MultiFamily10,000 SF
Sold 08/24/2023
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$150
Total Square Footage:10,000 SF
Transaction Type:Sale

The property involved in this transaction is a multifamily asset located at 1530 Crescent Circle in the West Palm Beach market. The property spans 10,000 square feet and consists of 8 units. The sale price for this property was $1,500,000, resulting in a price per unit of $187,500 and a price per square foot of $150.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,500,000
  • Address: 1530 Crescent Circle
  • Market: West Palm Beach
  • Units: 8
  • Price per Unit: $187,500
  • Square Footage: 10,000
  • Price per Square Foot: $150

Wendy De Rycke served as the seller in this transaction. The buyer's representative was Benjamin Lipkin from LIV Real Estate Group.

Players

3 deals$7.8M volume
BROKER

Details

SOLD
IMAGE: Benjamin Lipkin DATE: 08/24/2023 ADDRESS: 1530 Crescent Circle MARKET: West Palm Beach ASSET TYPE: MultiFamily SELLER: Wendy De Rycke BUYER'S REP: Benjamin Lipkin - LIV Real Estate Group (@Thelivrealestategroup) SALE PRICE: $1,500,000 UNITS: 8 ~ PPU: $187,500 SF: 10,000 ~ PPSF: $150

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

$79,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18