DG Palm Beach Airport Property Owner LP Acquires Multifamily In West Palm Beach For $12M
SOLD
$12,000,000
Florida
See Similar DealsMultiFamily978 SF
Sold 09/15/2021
SOLD
DG Palm Beach Airport Property Owner LP Acquires Multifamily In West Palm Beach For $12M
2886 Ranch House Rd, West Palm Beach, FL, USA
See Similar DealsMultiFamily978 SF
Sold 09/15/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$12,269
Total Square Footage:978 SF
Transaction Type:Sale
The multifamily property located at 2886 Ranch House Rd in West Palm Beach was sold on September 15, 2021. The property was acquired by DG Palm Beach Airport Property Owner LP for a total sale price of $12,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,000,000
- Address: 2886 Ranch House Rd, West Palm Beach
The buyer, DG Palm Beach Airport Property Owner LP, purchased the property from the sellers, David C. Saunders and Robert Bishop. No additional information regarding the parties involved in the transaction was provided.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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