Carroll Organization Acquires 188-Unit Multifamily In Oakland Park For $49.4M
SOLD
$49,400,000
Florida
See Similar DealsMultiFamily
Sold 04/06/2022
SOLD
Carroll Organization Acquires 188-Unit Multifamily In Oakland Park For $49.4M
2829 South Oakland Forest Drive, Oakland Park, Florida 33309, United States
See Similar DealsMultiFamily
Sold 04/06/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 2829 South Oakland Forest Drive in Oakland Park has been sold for $49,400,000. The transaction took place on 04/06/2022. The property spans across 5 acres and consists of 188 units. The price per unit comes out to be $262,766. The seller of the property was Atlas Residential.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $49,400,000
- Address: 2829 South Oakland Forest Drive
- Market: Oakland Park
- Acreage: 5
The buyer of the property is Carroll Organization, represented by M. Patrick Carroll. The sale was facilitated by M. Patrick Carroll from Carroll Organization. No additional details were provided about the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,634,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$175,507.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$234,181.20
Annual Debt Service$2,810,174.43
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