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3049 Harbor Drive, Fort Lau...

Karma Executive Homes Acquires Fort Lauderdale Multifamily For $7.9M
SOLDMultiFamily

Karma Executive Homes Acquires Fort Lauderdale Multifamily For $7.9M

3049 Harbor Drive, Fort Lauderdale, Florida 33316, United States

$7,900,000

$1,046/SF

Building Size

7,547 SF

Asset Type

MultiFamily

Closing

Apr 19, 2022

AI

The multifamily property located at 3049 Harbor Dr in Fort Lauderdale has been sold. The transaction took place on 04/20/2022. The property, consisting of 8 units, spans across 16,500 square feet. The sale price for this property was $7,900,000, which translates to a price per unit of $987,500 and a price per square foot of $479.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $7,900,000
  • Units: 8
  • Square Footage: 16,500
  • Price per Unit: $987,500
  • Price per Square Foot: $479
  • Market: Fort Lauderdale
  • Buyer: Karma Executive Homes - Rajiv Sharma
  • Seller: Intervest Southeast House Limited Partnership – Dale Williams
  • Brokers: Gerard Yetming & Julian Zuniga - Colliers International

Growing interest in the Fort Lauderdale market led to the sale of this multifamily property. The deal was facilitated by brokers Gerard Yetming and Julian Zuniga from Colliers International. The buyer, Karma Executive Homes, was represented by Rajiv Sharma. On the other side, Intervest Southeast House Limited Partnership, led by Dale Williams, acted as the seller. With a price per square foot of $479, this transaction exemplifies the value potential in the Fort Lauderdale market.

Players

Julian Zuniga

Colliers

Broker

$102M

vol

16 deals

Broker

Fort Lauderdale MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.01%

Cash-on-Cash

-0.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93