Alejandro Gershanik Acquires MultiFamily Property In Riviera Beach For $3.4M
SOLD
Florida
See Similar DealsMultiFamily18,320 SF
Sold 09/22/2023
SOLD
Alejandro Gershanik Acquires MultiFamily Property In Riviera Beach For $3.4M
3375 Avenue J
See Similar DealsMultiFamily18,320 SF
Sold 09/22/2023
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$185
Total Square Footage:18,320 SF
Transaction Type:Sale
A multi-family property located at 3375 Avenue J in Riviera Beach has been sold for $3,400,000. Spanning across 18,320 square feet, this property consists of 20 units, resulting in a price per unit of $170,000. The sale price per square foot stands at $186.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $3,400,000
- Address: 3375 Avenue J, Riviera Beach
- Units: 20
- Price per Unit: $170,000
- Square Footage: 18,320
- Price per Square Foot: $186
The buyer of this property is Alejandro Gershanik, represented by BM2 Realty. The seller, Menachem Tiefenbrun, relied on Travis Jones and Alec Bashein from Horvath & Tremblay as their representatives in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$181,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,079.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,117.73
Annual Debt Service$193,412.82
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