Rental Asset Management Acquires Multifamily Property In Boca Raton For $20M
1551 Northwest 13th Street, Boca Raton, FL, USA
$20,000,000
$236/SF
Building Size
84,510 SF
Asset Type
MultiFamily
Closing
Aug 1, 2021
AI
Located at 1551-1601 NW 13th St in Boca Raton, this multifamily property has been sold for $20,000,000. The transaction took place on 08/02/2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $20,000,000
- Units: 84
- Price Per Unit: $238,095
- Acres: 6.7
- Price Per Acre: $2,985,075
- Market: Boca Raton
Rental Asset Management acquired the property from 3T Country Club Village, represented by Oded Meltzer. The mortgage brokers involved in the deal were Mitch Sinberg and Matthew Robbins from Berkadia.
Players
Boca Raton MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93