Francisco Rodriguez Melo, Stefano Garofoli & Costantino Cicchelli Acquire Multifamily Property In Fort Myers For $4.25M
SOLD
$4,250,000
Florida
See Similar DealsMultiFamily54,334 SF
Sold 07/20/2022
SOLD
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
See Similar DealsMultiFamily54,334 SF
Sold 07/20/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$78
Total Square Footage:54,334 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$226,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,099.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,147.17
Annual Debt Service$241,766.02
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