Eduardo Pelaez Acquires Fort Lauderdale Multifamily For $8M
SOLD
$8,000,000
Florida
See Similar DealsMultiFamily9,269 SF
Sold 04/25/2022
SOLD
Eduardo Pelaez Acquires Fort Lauderdale Multifamily For $8M
3019 Harbor Drive, Fort Lauderdale, Florida 33316, United States
See Similar DealsMultiFamily9,269 SF
Sold 04/25/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$863
Total Square Footage:9,269 SF
Transaction Type:Sale
The multifamily property located at 3019 Harbor Dr in Fort Lauderdale, FL has been sold in a closed transaction. The property spans a total area of 9,269 square feet and was sold at a price of $8,000,000. This translates to a price per square foot of $863.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,000,000
- Address: 3019 Harbor Dr, Fort Lauderdale, FL
- Market: Fort Lauderdale, FL
Eduardo Pelaez has acquired the property from Richard C. Malone. Eduardo Pelaez acted as the buyer in this transaction, while Richard C. Malone served as the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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