Updated Dec 21, 2023
Marcus & Millichap Brokers Sell Palm Springs Multifamily For $7.4M
4265 Line Drive, Palm Springs, FL, USA
$7,400,000
$7,297/SF
Building Size
1,014 SF
Asset Type
MultiFamily
Closing
Apr 4, 2021
About this deal
AI
The multifamily property located at 4265 Line Dr in Palm Springs was recently sold for $7,400,000. The transaction took place on April 5, 2021. The property consists of 44 units, with a per unit price of $168,182.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,400,000
- Units: 44
- Price Per Unit: $168,182
The sale of the property was facilitated by brokers Daniel J. Cunningham and Evan Richardson of Marcus & Millichap.
The multifamily sale at 4265 Line Drive, Palm Springs, FL, USA in Palm Springs, Florida sold for $7.4M in 2021. Reported inventory is 1,014 square feet across 44 units, or about 7.3K per square foot. Evan Richardson, Daniel J. Cunningham, Marcus & Millichap appear on the sale alongside Marcus & Millichap. This page is the Palm Springs, Florida file for the 4265 Line Drive, Palm Springs, FL, USA multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Palm Springs sit in the Market section below. Filter that Palm Springs multifamily set by closing date to see what else sold near 4265 Line Drive, Palm Springs, FL, USA around 2021. Published consideration for 4265 Line Drive, Palm Springs, FL, USA is $7.4M, dated 2021. Cite this Marcus & Millichap Brokers Sell Palm Springs Multifamily For $7.4M sale when underwriting similar multifamily product around Palm Springs, Florida.
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Palm Springs MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.14%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93