Francisco Rodriguez Melo, Stefano Garofoli & Costantino Cicchelli Acquire Multifamily Property In Fort Myers For $4.25M
3604 Seminole Avenue, Fort Myers, Florida 33916, United States
$4,250,000
$78/SF
Building Size
54,334 SF
Asset Type
MultiFamily
Closing
Jul 19, 2022
AI
A multifamily property located at 3604 Seminole Ave in Fort Myers was recently sold for $4,250,000. The property consists of 68 units with a price per unit of $62,500. The total square footage of the property is 54,334, with a price per square foot of $78. The transaction took place on July 20, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,250,000
- Address: 3604 Seminole Ave
- Market: Fort Myers
The buyers of the property are Francisco Rodriguez Melo, Stefano Garofoli, and Costantino Cicchelli representing Brickone. The seller is Adan Rounds, who was represented by Cypress Courts Ltd. The brokers involved in the transaction are Gema Ruiz and Francisco Rodriguez Melo from Cedano Realty Advisors.
Players
Fort Myers MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.73%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93