Standard Communities Acquires Multifamily Property In West Warwick, RI For $29.57M
SOLD
$2,395,000
Florida
See Similar DealsMultiFamily4,529 SF
Sold 03/14/2022
SOLD
Standard Communities Acquires Multifamily Property In West Warwick, RI For $29.57M
1700 South Surf Road, Hollywood, Florida 33019, United States
See Similar DealsMultiFamily4,529 SF
Sold 03/14/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$528
Total Square Footage:4,529 SF
Transaction Type:Sale
The multifamily property located at 47 Tanglewood Dr in West Warwick, RI has been sold in a transaction. The property spans across 141,500 square feet and was sold for a total price of $29,570,000, resulting in a price per square foot of $209.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $29,570,000
- Square Footage: 141,500
- Price Per Square Foot: $209
- Address: 47 Tanglewood Dr, West Warwick, RI
- Market: West Warwick, RI
The buyer of the property is Standard Communities, while Sawyer Realty Holdings served as the seller. The sale transaction was facilitated by the following brokers from Cushman & Wakefield: Bruce Lusa, Chris Sower, Jon Bryant, John Flaherty, and Kevin Jones.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$127,733.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,508.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,353.52
Annual Debt Service$136,242.26
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