SREIT Holly Cove Apartments Acquires 1745 Wells Road Multifamily In Orange Park For $27.3M
SOLD
$27,250,000
Florida
See Similar DealsMultiFamily10,056 SF
Sold 11/03/2020
SOLD
SREIT Holly Cove Apartments Acquires 1745 Wells Road Multifamily In Orange Park For $27.3M
1745 Wells Road, Orange Park, FL, USA
See Similar DealsMultiFamily10,056 SF
Sold 11/03/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$2,709
Total Square Footage:10,056 SF
Transaction Type:Sale
The multifamily property located at 1745 Wells Road in Orange Park has been sold for a price of $27,250,000. The property consists of 202 units, resulting in a price per unit of $134,901.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $27,250,000
- Address: 1745 Wells Road
- Market: Orange Park
The buyer of the property is SREIT Holly Cove Apartments LLC, while the seller is The Vestcor Companies, represented by Steve Moore. The broker involved in the transaction is Starwood Capital Group, represented by Barry Sternlicht.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$96,813.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$129,178.90
Annual Debt Service$1,550,146.83
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