Michael Regan, Francesco Carriera, Cameron Barbas & Matthew Valeri Of CBRE Facilitate $6.5M Multifamily Sale On Davis Islands, Tampa
SOLD
$6,500,000
+ 1
Florida
See Similar DealsMultiFamily700 SF
Sold 05/18/2020
SOLD
Michael Regan, Francesco Carriera, Cameron Barbas & Matthew Valeri Of CBRE Facilitate $6.5M Multifamily Sale On Davis Islands, Tampa
415 Danube Ave, Tampa, FL 33606, USA
See Similar DealsMultiFamily700 SF
Sold 05/18/2020
+ 1
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$9,285
Total Square Footage:700 SF
Transaction Type:Sale
A multifamily property located at 415 Danube Ave in Davis Islands, Tampa, has been sold for a total price of $6,500,000. The property consists of 40 units, resulting in a price per unit of $162,500. The capitalization rate for this transaction is 5.4%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,500,000
- Units: 40
- Price Per Unit: $162,500
- Capitalization Rate: 5.4%
The sellers of the property are Kip & Jamie Kula. The deal was facilitated by CBRE, with Michael Regan, Francesco Carriera, Cameron Barbas & Matthew Valeri representing the sellers as brokers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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