Lyon Management Group Acquires Sunrise Multifamily For $33.1M
SOLD
$33,100,000
Florida
See Similar DealsMultiFamily
Sold 09/14/2022
SOLD
Lyon Management Group Acquires Sunrise Multifamily For $33.1M
4108 North Pine Island Road, Sunrise, Florida 33351, United States
See Similar DealsMultiFamily
Sold 09/14/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
Located at 4108 North Pine Island Road in Sunrise, this multifamily property spans across 6 acres. The transaction took place on September 14, 2022, with a sale price of $33,100,000. The property consists of 128 units, resulting in a price per unit of $258,594. The image showcasing the property was captured by Still Hunter and Kaya Suarez.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $33,100,000
- Address: 4108 North Pine Island Road, Sunrise
- Market: Sunrise
- Acres: 6
- Units: 128
- Price Per Unit: $258,594
The Lyon Management Group acquired the property from Ortsac Investments, represented by Robert Castro. The sale was facilitated by Still Hunter and Kaya Suarez from Walker & Dunlop. Comerica Bank provided the financing for the transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,765,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$117,597.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$156,910.89
Annual Debt Service$1,882,930.64
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