Fincapital Investments LLC Acquires 138-Unit Multifamily In Lakewood, Jacksonville For $17.85M
SOLD
$17,850,000
Florida
See Similar DealsMultiFamily117,272 SF
Sold 10/08/2021
SOLD
Fincapital Investments LLC Acquires 138-Unit Multifamily In Lakewood, Jacksonville For $17.85M
3534 Smithfield St, Jacksonville, FL, USA
See Similar DealsMultiFamily117,272 SF
Sold 10/08/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$152
Total Square Footage:117,272 SF
Transaction Type:Sale
A multifamily property located at 3534 Smithfield St in Lakewood, Jacksonville has been sold in a closed transaction. The property covers an area of 8.7 acres and was sold for a price of $17,850,000. The sale included a total of 138 units, resulting in a price per unit (PPU) of $129,348.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,850,000
- Address: 3534 Smithfield St
- Market: Lakewood, Jacksonville
- Asset Type: Multifamily
- Acres: 8.7
The buyer of the property was Fincapital Investments LLC, while the seller was Jax San Jose Apts. LP. The transaction was facilitated by broker John Rutherford from NAI Hallmark.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$952,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,417.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$84,618.11
Annual Debt Service$1,015,417.28
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