Updated Oct 28, 2024
Southeast Property Group Acquires Pinellas Park Multifamily For $11M
4355 84th Avenue, Pinellas Park, Florida 33781, United States
$11,000,000
$226/SF
Building Size
48,595 SF
Asset Type
MultiFamily
Closing
Dec 7, 2021
About this deal
AI
The multifamily property located at 4355 84th Ave N in Pinellas Park has been sold in a recent transaction. The property consists of 92 units and was sold for a total price of $11,000,000, resulting in an average price per unit of $119,565.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $11,000,000
- Units: 92
- Price Per Unit: $119,565
- Buyer: Southeast Property Group - Richard Shuster & Joe Rubin
Southeast Property Group, represented by Richard Shuster and Joe Rubin, facilitated the acquisition of the property. They played a crucial role in the transaction, ensuring a successful deal for all parties involved.
Players
Pinellas Park 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93