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Bianca & Michael Alvarez Purchase Multifamily Asset At 208 Avondale Drive For $2.75M

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SOLD
$2,750,000

Florida

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MultiFamily9,431 SF
Sold 08/23/2024
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SOLD

Bianca & Michael Alvarez Purchase Multifamily Asset At 208 Avondale Drive For $2.75M

208 Avondale Drive

See Similar Deals
MultiFamily9,431 SF
Sold 08/23/2024
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$291
Total Square Footage:9,431 SF
Transaction Type:Sale

The property asset involved in the transaction is located at 208 Avondale Drive in Pompano Beach. The multifamily asset comprises 13 units and has a total square footage of 9,431. The sale price reached was $2,750,000, resulting in a price per unit of $211,538 and a price per square foot of $291.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,750,000
  • Address: 208 Avondale Drive
  • Market: Pompano Beach
  • Units: 13
  • Square Feet: 9,431
  • Price Per Unit: $211,538
  • Price Per Square Foot: $291
  • Buyer: Bianca & Michael Alvarez
  • Seller: Ralph Puig
  • Brokers: Ryan Wold, Dan Dratch & Ethan Krauss - Franklin Street

The transaction was facilitated by brokers Ryan Wold, Dan Dratch, and Ethan Krauss, all representatives of Franklin Street, who played a pivotal role in the deal between buyer Bianca & Michael Alvarez and seller Ralph Puig.

Players

Dan Dratch
48 deals$267.8M volume
BROKER

Ryan Wold
Franklin Street
40 deals$210.5M volume(954) 312-1678
BROKER

Ethan Krauss
Marcus & Millichap
21 deals$69.6M volume(954) 245-3503
BROKER

Ethan Krauss
Marcus & Millichap
21 deals$69.6M volume(954) 245-3503
BROKER

Details

SOLD
IMAGE: Dan Dratch, Ryan Wold & Ethan Krauss DATE: 08/23/2024 ADDRESS: 208 Avondale Drive MARKET: Pompano Beach ASSET TYPE: Multifamily BUYER: Bianca & Michael Alvarez SELLER: Ralph Puig BROKERS: Ryan Wold (@DJSunsett) , Dan Dratch (@DanDratch) & Ethan Krauss (@EthanKrauss) - Franklin Street (@FranklinStreet.CRE) SALE PRICE: $2,750,000 UNITS: 13 ~ PPU: $211,538 SF: 9,431 ~ PPSF: $291

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,770.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,036.40
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