Coordinate Solutions Sells West Palm Beach Multifamily For $16.92M With Brokers Chris Leavitt & Ashley McIntosh - Douglas Elliman Real Estate
SOLD
$16,920,000
Florida
See Similar DealsMultiFamily16,000 SF
Sold 02/18/2022
SOLD
Coordinate Solutions Sells West Palm Beach Multifamily For $16.92M With Brokers Chris Leavitt & Ashley McIntosh - Douglas Elliman Real Estate
3611 South Flagler Drive, West Palm Beach, Florida 33405, United States
See Similar DealsMultiFamily16,000 SF
Sold 02/18/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$1,057
Total Square Footage:16,000 SF
Transaction Type:Sale
The multifamily property located at 3611 S Flagler Drive in West Palm Beach has been sold for a total price of $16,920,000. The property consists of 6 units, with each unit valued at approximately $2,820,000. The total square footage of the property is 16,000, equating to a price per square foot of $1,058.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $16,920,000
- Address: 3611 S Flagler Drive
- Market: West Palm Beach
The sale was facilitated by Chris Leavitt and Ashley McIntosh from Douglas Elliman Real Estate, representing the seller Coordinate Solutions.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$902,400.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,113.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,209.43
Annual Debt Service$962,513.19
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