Corinthian Capital Real Estate Partners Sells Fort Lauderdale Multifamily For $21.9M
SOLD
$21,850,000
Florida
See Similar DealsMultiFamily37,502 SF
Sold 03/10/2023
SOLD
Corinthian Capital Real Estate Partners Sells Fort Lauderdale Multifamily For $21.9M
2201 Southeast 18th Street, Fort Lauderdale, Fl 33316, USA
See Similar DealsMultiFamily37,502 SF
Sold 03/10/2023
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$582
Total Square Footage:37,502 SF
Transaction Type:Sale
Corinthian Capital Real Estate Partners has sold a multifamily property located at 2201 Southeast 18th Street in Fort Lauderdale. The asset consists of 34 units and spans a total area of 37,502 square feet. The sale price for this transaction amounts to $21,850,000, which translates to a per unit price of $642,647 and a price per square foot of $583.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $21,850,000
- Units: 34
- Price Per Unit: $642,647
- Square Footage: 37,502
- Price Per Square Foot: $583
- Address: 2201 Southeast 18th Street, Fort Lauderdale
The sale of this property was facilitated by the brokers Marc Brandt and Jaclyn Bild from Douglas Elliman, representing Corinthian Capital Real Estate Partners in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,165,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$77,628.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$103,580.15
Annual Debt Service$1,242,961.77
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