Updated Oct 29, 2024
Otto Investment Group Acquires Multifamily Property In Tampa For $22.2M
1545 Spruce Terrace, Tampa, FL 33607, USA
$22,160,000
$27,156/SF
Building Size
816 SF
Asset Type
MultiFamily
Closing
Nov 16, 2020
About this deal
AI
The multifamily property located at 1545 Spruce Terrace in Tampa has been sold for $22,160,000. The transaction was completed on 11/17/2020. The property consists of 135 units, with a per-unit price of $164,148.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $22,160,000
- Units: 135
- Price per unit (PPU): $164,148
The buyer of the property is Otto Investment Group, represented by Alexander Birken. The seller is Urban Core Holdings LLC.
The multifamily sale at 1545 Spruce Terrace, Tampa, FL 33607, USA in Tampa, Florida sold for $22.2M in 2020. Reported inventory is 816 square feet across 135 units, or about 27.2K per square foot. This page is the Tampa, Florida file for the 1545 Spruce Terrace, Tampa, FL 33607, USA multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Tampa sit in the Market section below. Filter that Tampa multifamily set by closing date to see what else sold near 1545 Spruce Terrace, Tampa, FL 33607, USA around 2020. Published consideration for 1545 Spruce Terrace, Tampa, FL 33607, USA is $22.2M, dated 2020. Cite this Otto Investment Group Acquires Multifamily Property In Tampa For $22.2M sale when underwriting similar multifamily product around Tampa, Florida.
Players
Tampa 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
0.72%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93