Social Housing Acquires Multifamily Property In Lake Worth Beach For $81.5M
SOLD
Florida
See Similar DealsMultiFamily
Sold 01/05/2022
SOLD
Social Housing Acquires Multifamily Property In Lake Worth Beach For $81.5M
2430 Lake Worth Road, Lake Worth, Florida 33461, United States
See Similar DealsMultiFamily
Sold 01/05/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 2430 Lake Worth Road & 2220 Lake Worth Road in Lake Worth Beach has been sold. The property spans across 12.3 acres and is situated in a desirable market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $81,500,000
- Units: 334
- Price per Unit (PPU): $244,012
Social Housing has acquired the property from AHS Residential, with Ernesto Lopes representing the seller. Roberto Pesant and Jaret Turkell from Berkadia served as the seller's representatives in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$289,552.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$386,351.58
Annual Debt Service$4,636,218.95
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