Abacus Capital Group Acquires Multifamily Property In Avondale, Jacksonville For $63M
SOLD
$63,000,000
Florida
See Similar DealsMultiFamily110,043 SF
Sold 08/26/2021
SOLD
Abacus Capital Group Acquires Multifamily Property In Avondale, Jacksonville For $63M
3946 Saint Johns Avenue
See Similar DealsMultiFamily110,043 SF
Sold 08/26/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$572
Total Square Footage:110,043 SF
Transaction Type:Sale
The multifamily property located at 3946 St. Johns Ave in Avondale, Jacksonville has been sold for a transaction amount of $63,000,000. The property consists of 228 units, resulting in a price per unit of $276,315. The sale took place on 08/06/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $63,000,000
- Address: 3946 St. Johns Ave, Avondale, Jacksonville
- Market: Avondale, Jacksonville
- Buyer: Abacus Capital Group
- Seller: Chance Partners - Judd Bobilin
- Brokers: Brian Moulder, Bobby Gatling & Dhaval Patel - Walker & Dunlop
- Date: 08/06/2021
- Units: 228
- Price Per Unit: $276,315
The sale of this multifamily property was facilitated by brokers Brian Moulder, Bobby Gatling, and Dhaval Patel from Walker & Dunlop. They represented the buyer and seller, Abacus Capital Group and Chance Partners - Judd Bobilin, respectively.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,360,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$223,825.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$298,652.14
Annual Debt Service$3,583,825.69
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