The Grey Rock Group LLC Acquires Palatka Multifamily For $4.85M
SOLD
$4,850,000
Florida
See Similar DealsMultiFamily
Sold 04/27/2022
SOLD
The Grey Rock Group LLC Acquires Palatka Multifamily For $4.85M
301 Kay Larkin Dr, Palatka, FL 32177, USA
See Similar DealsMultiFamily
Sold 04/27/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The property involved in this closed transaction is a multifamily asset located at 301 Kay Larkin Dr & 2501 Prosper St in Palatka. The transaction took place on 04/27/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,850,000
- Units: 138
- Price per Unit (PPU): $35,145
- Market: Palatka
The buyer in this transaction is The Grey Rock Group LLC. The brokers involved in this deal are Kyle Shoemaker and Bill Brading from Affordable Housing Investment Brokerage Inc.
Kyle Shoemaker represented the buyer in this transaction, while Bill Brading represented the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$258,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,231.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,991.47
Annual Debt Service$275,897.69
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