Michael Shahwan Acquires Multifamily Property In Jupiter For $5.8M
SOLD
$5,800,000
+ 3
Florida
See Similar DealsMultiFamily10,564 SF
Sold 03/31/2022
SOLD
Michael Shahwan Acquires Multifamily Property In Jupiter For $5.8M
1600 Center Street, Jupiter, Florida 33458, United States
See Similar DealsMultiFamily10,564 SF
Sold 03/31/2022
+ 3
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$549
Total Square Footage:10,564 SF
Transaction Type:Sale
A multifamily property located at 1600 Center St in Jupiter has been sold for a price of $5,800,000. The property consists of 30 units, with an average price per unit of $193,333. The total square footage of the property is 18,872, resulting in a price per square foot of $307. The transaction took place on March 31, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,800,000
- Address: 1600 Center St, Jupiter
- Market: Jupiter
The property was purchased by Mr. & Mrs. Michael Shahwan and sold by Colin O'Keeffe & Guy Holbrook. The transaction was facilitated by brokers Dan Dratch, Ryan Wold, Greg Matus, and Joseph Landsberg from Franklin Street.
Joseph Landsberg, Dan Dratch, Ryan Wold, and Greg Matus represented the buyer, Mr. & Mrs. Michael Shahwan, in the deal, while Colin O'Keeffe & Guy Holbrook were represented by their own brokers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$309,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,606.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,494.96
Annual Debt Service$329,939.51
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