Updated Oct 28, 2024
Oakwood Townhomes Acquires 160-Unit Multifamily In Lake Worth, Florida For $35.4M
2425 2nd Avenue North, Lake Worth, Florida, USA
$35,400,000
$176/SF
Building Size
200,366 SF
Asset Type
MultiFamily
Closing
Nov 16, 2021
About this deal
AI
Located at 2425 2nd Avenue North in Lake Worth, Florida, a multifamily property has been sold in a recent transaction. The property, consisting of 160 units, was purchased by Oakwood Townhomes from One Real Estate Investments. The sale was facilitated by Jaret Turkell, Roberto Pesant, Omar Morales, and Jose Mota, brokers from Berkadia. The transaction took place on November 16, 2021, for a total sale price of $35,400,000. This equates to an average price per unit of $221,250.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $35,400,000
- Units: 160
- Price Per Unit: $221,250
- Address: 2425 2nd Avenue North, Lake Worth, Florida
- Market: Lake Worth, Florida
The involvement of Jaret Turkell, Roberto Pesant, Omar Morales, and Jose Mota from Berkadia has been instrumental in completing this transaction successfully. As representatives of Oakwood Townhomes and One Real Estate Investments, they played key roles in negotiating and finalizing the deal.
Players
Lake Worth MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
About $176 per square foot on a published $35.4M for 200,366 square feet (2021).
Visit Jose Mota to view all their deals.
Browse Florida multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93