Costantino Cicchelli And Stefano Garofoli Acquire Multifamily In Ocala For $3.15M
SOLD
$3,150,000
Florida
See Similar DealsMultiFamily43,400 SF
Sold 03/25/2022
SOLD
Costantino Cicchelli And Stefano Garofoli Acquire Multifamily In Ocala For $3.15M
2135 Northwest 1st Avenue, Ocala, Florida 34475, United States
See Similar DealsMultiFamily43,400 SF
Sold 03/25/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$72
Total Square Footage:43,400 SF
Transaction Type:Sale
Located at 2135 NW 1st Ave in Ocala, this multifamily property was recently sold in a closed transaction. The sale took place on March 25, 2022, with Costantino Cicchelli and Stefano Garofoli as the buyers and Joshua Cardoso as the seller. The property, consisting of 40 units, spans across 43,400 square feet. The sale price for this transaction was $3,150,000, resulting in a price per unit (PPU) of $78,750 and a price per square foot (PPSF) of $73.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,150,000
- Units: 40
- Price per Unit (PPU): $78,750
- Square Feet: 43,400
- Price per Square Foot (PPSF): $73
- Market: Ocala
The broker involved in this transaction was Francisco Rodriguez Melo from Cedano Realty Advisors. The buyers, Costantino Cicchelli and Stefano Garofoli, successfully acquired the property from seller Joshua Cardoso.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$168,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,191.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,932.61
Annual Debt Service$179,191.28
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