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Franklin Street Brokers Facilitate $5.25M Sale Of 30-Unit Multifamily Property In Pompano Beach

Property Image
SOLD
$5,250,000
Greg Matus
Dan Dratch
Ryan Wold
+ 1

Florida

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MultiFamily16,700 SF
Sold 09/21/2023
the dealplayerscompscontact
Property Image
SOLD

Franklin Street Brokers Facilitate $5.25M Sale Of 30-Unit Multifamily Property In Pompano Beach

1751 Northeast 31st Street

See Similar Deals
MultiFamily16,700 SF
Sold 09/21/2023
Greg Matus
Dan Dratch
Ryan Wold
+ 1
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$314
Total Square Footage:16,700 SF
Transaction Type:Sale

A multifamily property located at 1751 Northeast 31st Street in Pompano Beach has been sold for $5,250,000. The property features 30 units with an average price per unit of $175,000. The total square footage of the property is 16,700, resulting in a price per square foot of $314.

Summary of transation details

  • Property Type: MultiFamily
  • Transaction Amount: $5,250,000
  • Address: 1751 Northeast 31st Street, Pompano Beach
  • Market: Pompano Beach
  • Units: 30
  • Price per Unit: $175,000
  • Square Footage: 16,700
  • Price per Square Foot: $314

The buyer of the property is Mark Mittal, and the seller is Philip Miller. The deal was facilitated by brokers Dan Dratch, Ryan Wold, and Greg Matus from Franklin Street.

Players

Greg Matus
Franklin Street
Greg Matus
39 deals$386.5M volume
BROKER
Dan Dratch
Franklin Street
Dan Dratch
48 deals$267.8M volume
BROKER
Ryan Wold
Franklin Street
Ryan Wold
40 deals$210.5M volume(954) 312-1678
BROKER
PM
Phillip Miller
7 deals$29.4M volume
SELLER

Details

SOLD
IMAGE: Ryan Wold, Dan Dratch, Greg Matus DATE: 09/21/2023 ADDRESS: 1751 Northeast 31st Street MARKET: Pompano Beach ASSET TYPE: MultiFamily BUYER: Mark Mittal SELLER: Philip Miller BROKERS: Dan Dratch (@Big_Smoothie_) (@DanDratch), Ryan Wold (@DJSunsett) & Greg Matus (@GMatus24) - Franklin Street (@FranklinStreet.CRE) SALE PRICE: $5,250,000 UNITS: 30 ~ PPU: $175,000 SF: 16,700 ~ PPSF: $314

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$280,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,652.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,887.68
Annual Debt Service$298,652.14