Regent Acquires Multifamily Asset In Tampa For $10.75M With Broker Matthew Valeri - CBRE
SOLD
$10,750,000
Florida
See Similar DealsMultiFamily118,048 SF
Sold 06/02/2020
SOLD
Regent Acquires Multifamily Asset In Tampa For $10.75M With Broker Matthew Valeri - CBRE
4131 East Busch Boulevard, Tampa, FL 33617
See Similar DealsMultiFamily118,048 SF
Sold 06/02/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$91
Total Square Footage:118,048 SF
Transaction Type:Sale
An eight-building multifamily property located at 4131 E. Busch Blvd in Tampa has been sold for a price of $10,750,000. The sale was completed on June 2, 2021, and the asset consists of 96 units. With a price per unit (PPU) of $111,979, this transaction indicates a significant investment in the Tampa multifamily market.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $10,750,000
- Units: 96
- Price Per Unit: $111,979
The buyer of the property was Regent, while Tropical Property Management acted as the seller. The deal was facilitated by Matthew Valeri of CBRE. As the broker representing Regent, Matthew Valeri played a crucial role in the successful completion of the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$573,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$38,192.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,960.48
Annual Debt Service$611,525.81
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