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3604 Seminole Avenue, Fort ...

Francisco Rodriguez Melo, Stefano Garofoli & Costantino Cicchelli Acquire Multifamily Property In Fort Myers For $4.25M
SOLDMultiFamily

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

Gema Ruiz

Cedano Realty Advisors

Broker

$26.2M

vol

6 deals

Broker
B
BrickoneBuyer
Stefano Garofoli

Stefano Garofoli

Brickone

Buyer

$34M

vol

9 deals

Buyer

Adan Rounds

Cypress Courts Ltd.

Seller

$8.5M

vol

2 deals

Seller

Fort Myers 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

3.73%

Cash-on-Cash

-1.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93