FinCapital Investments Acquires Multifamily Property In Jacksonville From Simplicity Capital
SOLD
$20,150,000
Florida
See Similar DealsMultiFamily
Sold 12/31/2021
SOLD
FinCapital Investments Acquires Multifamily Property In Jacksonville From Simplicity Capital
4070 Barnes Road South, Jacksonville, Florida 32207, United States
See Similar DealsMultiFamily
Sold 12/31/2021
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 4070 Barnes Road South and 1600 Lansdowne Drive in Jacksonville has been sold. The transaction took place on December 31, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $20,150,000
- Units: 185
- Price per Unit (PPU): $108,919
- Market: Jacksonville
The buyer of the property is FinCapital Investments, while the seller is Simplicity Capital. The deal was facilitated by brokers John Rutherford and Luke McCann from NAI Hallmark.
Luke McCann and John Rutherford represented the buyer and seller respectively in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,074,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,588.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$95,521.28
Annual Debt Service$1,146,255.36
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