Waypoint Real Estate Investments Acquires Stuart Multifamily For $22.2M
SOLD
$22,200,000
+ 2
Florida
See Similar DealsMultiFamily120,234 SF
Sold 05/11/2020
SOLD
Waypoint Real Estate Investments Acquires Stuart Multifamily For $22.2M
2750 SE Ocean Blvd, Stuart, FL 34996, USA
See Similar DealsMultiFamily120,234 SF
Sold 05/11/2020
+ 2
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$184
Total Square Footage:120,234 SF
Transaction Type:Sale
Waypoint Real Estate Investments has purchased a multifamily property located at 2750 SE Ocean Blvd in Stuart. The property, consisting of 150 units, was sold by Sentio Investments for a total price of $22,200,000. This equates to a per unit price of $148,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $22,200,000
- Units: 150
- Price Per Unit: $148,000
The transaction was facilitated by brokers Richard Swartz, Jay Wagner, Tim Hosmer, Chris Remeika, and Jack Griffin of Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,183,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$78,871.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$105,239.33
Annual Debt Service$1,262,871.91
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