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Michael M. Burke Acquires Apartment In Saint Petersburg, FL For $3.3M

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SOLD
$3,300,000

Florida

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MultiFamily6,390 SF
Sold 04/08/2022
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Property Image
SOLD

Michael M. Burke Acquires Apartment In Saint Petersburg, FL For $3.3M

326 8th Avenue Northeast, St. Petersburg, Florida 33701, United States

See Similar Deals
MultiFamily6,390 SF
Sold 04/08/2022
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$516
Total Square Footage:6,390 SF
Transaction Type:Sale

Located at 326 8th Ave NE in Saint Petersburg, FL, this apartment building was recently sold in a closed transaction. The property spans 6,390 square feet and sold for a total price of $3,300,000, resulting in a price per square foot of $516.

Summary of Transaction Details

  • Property Type: Apartment
  • Transaction Amount: $3,300,000
  • Address: 326 8th Ave NE, Saint Petersburg, FL
  • Market: Saint Petersburg, FL

The buyer in this transaction was Michael M. Burke, while the seller was John P Abel Jr. Both parties, represented by their brokers, successfully completed the sale of this apartment building.

Players

2 deals$28.4M volume
BUYER

Details

SOLD
IMAGE: 04/08/2022 ADDRESS: 326 8th Ave Ne MARKET: Saint Petersburg, FL ASSET TYPE: Apartment BUYER: Michael M. Burke SELLER: John P Abel Jr PRICE: $3,300,000 SF: 6,390 ~ PPSF: $516

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$11,724.21
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