Marcus & Millichap Sells Tallahassee Multifamily Property For $1.4M With Brokers David Vaughan, Ray Turchi & Rob Wright
SOLD
$1,400,000
Florida
See Similar DealsMultiFamily9,450 SF
Sold 03/04/2021
SOLD
Marcus & Millichap Sells Tallahassee Multifamily Property For $1.4M With Brokers David Vaughan, Ray Turchi & Rob Wright
1824 W Tharpe St, Tallahassee, FL, USA
See Similar DealsMultiFamily9,450 SF
Sold 03/04/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$148
Total Square Footage:9,450 SF
Transaction Type:Sale
An apartment complex located at 1824 W Tharpe St in Tallahassee has been sold for $1,400,000. This multifamily property consists of 24 units, resulting in a price per unit of $58,333.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,400,000
- Units: 24
- Price Per Unit: $58,333
The sale of this property was facilitated by Marcus & Millichap, with brokers David Vaughan, Ray Turchi, and Rob Wright representing the parties involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$74,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,973.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,636.71
Annual Debt Service$79,640.57
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