Updated Oct 28, 2024
West Shore Acquires Multifamily Property In Gainesville From Evergreen Residential LLC For $76.9M
3780 Northwest 24th Boulevard, Gainesville, Florida 32605, United States
$76,900,000
$160/SF
Building Size
478,542 SF
Asset Type
MultiFamily
Closing
Jan 7, 2022
About this deal
AI
An asset involving a multifamily property located at 3780 NW 24th Blvd in Gainesville has been sold. The property, comprising 322 units, was sold for a total price of $76,900,000, which equates to an average price per unit of $238,820. The property spans a total square footage of 478,542, resulting in a price per square foot of $161.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $76,900,000
- Units: 322
- Price per Unit: $238,820
- Square Footage: 478,542
- Price per Square Foot: $161
- Address: 3780 NW 24th Blvd, Gainesville
The buyer of the property is West Shore, while Evergreen Residential LLC acted as the seller. The transaction was facilitated by broker Jay Weiner from Rosewood Realty Group.
On the Map
$76,900,000
$160/SF
MultiFamily
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Gainesville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $160 per square foot on a published $76.9M for 478,542 square feet (2022).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93