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Axiom Holdings Acquires Multifamily Property In Pompano Beach For $3.8M

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SOLD
$3,800,000

Florida

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MultiFamily16,700 SF
Sold 03/11/2020
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Property Image
SOLD

Axiom Holdings Acquires Multifamily Property In Pompano Beach For $3.8M

1751 Northeast 31st Street

See Similar Deals
MultiFamily16,700 SF
Sold 03/11/2020
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$227
Total Square Footage:16,700 SF
Transaction Type:Sale

Situated in Pompano Beach, the multifamily property located at 1751 NE 31st St has recently been sold. This transaction took place on March 12, 2020, with a sale price of $3,800,000. Spanning across 16,700 square feet, the property consists of 30 units, resulting in a price per square foot of $227. The buyer of this property is Axiom Holdings, while the seller is Maven Real Estate. The deal was facilitated by brokers Dan Dratch, Greg Matus, and AJ Stanford from Franklin Street.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,800,000
  • Address: 1751 NE 31st St
  • Market: Pompano Beach
  • Square Footage: 16,700
  • Price Per Square Foot: $227
  • Number of Units: 30
  • Price Per Unit: $126,666

The deal was facilitated by Dan Dratch, Greg Matus, and AJ Stanford from Franklin Street, representing the buyer and seller in this transaction. This successful sale highlights the ongoing activity in the Pompano Beach market and showcases the strategic approach taken by the parties involved.

Players

AJ Stanford
11 deals$103M volume(954) 245-3503
BROKER

Greg Matus
Franklin Street
39 deals$386.5M volume
BROKER

Dan Dratch
Franklin Street
48 deals$267.8M volume
BROKER

Details

SOLD
IMAGE: Dan Dratch, Greg Matus & AJ Stanford DATE: 03/12/2020 ADDRESS: 1751 NE 31st St MARKET: Pompano Beach ASSET TYPE: Multifamily PRICE: $3,800,000 SF: 16,700 PPSF: $227 UNITS: 30 PPU: $126,666 BUYER: Axiom Holdings SELLER: Maven Real Estate BROKERS: Dan Dratch, Greg Matus & AJ Stanford - Franklin Street

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

$202,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,500.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,013.94
Annual Debt Service$216,167.26