InvestRes Sells 200-Unit Multifamily Property In Jacksonville For $40M With Berkadia Brokers
SOLD
Florida
See Similar DealsMultiFamily900 SF
Sold 08/06/2021
SOLD
InvestRes Sells 200-Unit Multifamily Property In Jacksonville For $40M With Berkadia Brokers
3709 San Pablo Road South, Jacksonville, FL, USA
See Similar DealsMultiFamily900 SF
Sold 08/06/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$44,444
Total Square Footage:900 SF
Transaction Type:Sale
InvestRes has sold a multifamily property located at 3709 San Pablo Road S in Jacksonville. The property, consisting of 200 units, was sold for a total price of $40,000,000, resulting in a per unit price of $200,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $40,000,000
- Units: 200
- Price Per Unit: $200,000
- Address: 3709 San Pablo Road S, Jacksonville
- Market: Jacksonville
The sale of this multifamily property was facilitated by Greg Rainey, Matt Wilcox, Brett Moss, Cole Whitaker, and Jason Stanton from Berkadia acting as brokers for InvestRes.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$142,111.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$189,620.41
Annual Debt Service$2,275,444.88
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