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Legacy Residential Group Acquires Hollywood Multifamily Property For $17.4M

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SOLD
$17,400,000

Florida

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MultiFamily88,893 SF
Sold 08/17/2022
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Property Image
SOLD

Legacy Residential Group Acquires Hollywood Multifamily Property For $17.4M

4150 Davie Road Extension, Hollywood, Florida 33024, United States

See Similar Deals
MultiFamily88,893 SF
Sold 08/17/2022
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$195
Total Square Footage:88,893 SF
Transaction Type:Sale

The multifamily property located at 4150 Davie Road Extension in Hollywood has been sold for a total price of $17,400,000. The sale was facilitated by Legacy Residential Group, represented by Tom Cabrerizo, and the seller was Triangle Professional Building Corp. III. The property consists of 88 units, with a price per unit of $197,727. The total square footage of the property is 88,893, resulting in a price per square foot of $196.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $17,400,000
  • Units: 88
  • Price per Unit: $197,727
  • Square Footage: 88,893
  • Price per Square Foot: $196

Tom Cabrerizo from Legacy Residential Group represented the buyer in this transaction. The lender involved in the sale was the Bank of New York Mellon.

Players

8 deals$259.4M volume
BUYER

Bank Of NY Mellon
LENDER

Details

SOLD
IMAGE: Tom Cabrerizo DATE: 08/17/2022 ADDRESS: 4150 Davie Road Extension MARKET: Hollywood ASSET TYPE: Multifamily BUYER: Legacy Residential Group - Tom Cabrerizo SELLER: Triangle Professional Building Corp. III LENDER: Bank of New York Mellon SALE PRICE: $17,400,000 UNITS: 88 ~ PPU: $197,727 SF: 88,893 ~ PPSF: $196

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$928,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$61,818.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,484.88
Annual Debt Service$989,818.52