West Shore Acquires Multifamily Property In Gainesville From Evergreen Residential LLC For $76.9M
SOLD
$76,900,000
Florida
See Similar DealsMultiFamily478,542 SF
Sold 01/07/2022
SOLD
West Shore Acquires Multifamily Property In Gainesville From Evergreen Residential LLC For $76.9M
3780 Northwest 24th Boulevard, Gainesville, Florida 32605, United States
See Similar DealsMultiFamily478,542 SF
Sold 01/07/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$160
Total Square Footage:478,542 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,101,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$273,209.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$364,545.23
Annual Debt Service$4,374,542.79
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