Marcus & Millichap Brokers Sell Multifamily Asset In Saint Petersburg For $12M
3600 49th Avenue North, St. Petersburg, FL, USA
$12,000,000
$183/SF
Building Size
65,409 SF
Asset Type
MultiFamily
Closing
Jan 5, 2021
AI
A multifamily property located at 3600 49th Avenue N. in Saint Petersburg was recently sold for $12,000,000. The sale took place on January 6, 2021 and involved a total of 102 units. The price per unit (PPU) for this transaction was $117,647.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,000,000
- Address: 3600 49th Avenue N.
- Market: Saint Petersburg
- Units: 102
- Price per Unit: $117,647
Casey Babb, Luis Baez, and Shawn Rupp from Marcus & Millichap were the brokers representing the parties involved in this sale.
Players
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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93