Updated Dec 18, 2023
Michael M. Burke Acquires Apartment In Saint Petersburg, FL For $3.3M
326 8th Avenue Northeast, St. Petersburg, Florida 33701, United States
$3,300,000
$516/SF
Building Size
6,390 SF
Asset Type
MultiFamily
Closing
Apr 7, 2022
About this deal
AI
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.
On the Map
$3,300,000
$516/SF
MultiFamily
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Saint Petersburg 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
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93