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4701 31st Street South, St ...

Joe Rubin Acquires Multifamily Property In St. Petersburg From Ivonne Garcia
SOLDMultiFamily

Joe Rubin Acquires Multifamily Property In St. Petersburg From Ivonne Garcia

4701 31st Street South, St Petersburg, Florida 33712, United States

$7,150,000

$110/SF

Building Size

64,896 SF

Asset Type

MultiFamily

Closing

Apr 10, 2022

AI

The multifamily property located at 4701 31st St S in St. Petersburg has been sold for a price of $7,150,000. The transaction took place on 04/11/2022. The property consists of 44 units, with an average price per unit (PPU) of $162,500. It spans a total area of 64,896 square feet, with a price per square foot (PPSF) of $110.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $7,150,000
  • Date: 04/11/2022
  • Address: 4701 31st St S
  • Market: St. Petersburg
  • Units: 44
  • PPU: $162,500
  • SF: 64,896
  • PPSF: $110

The buyer of the property is Joe Rubin, while the seller is Ivonne Garcia. The deal was facilitated by the brokers Mark Savarese, Avery Jordan, Zach Ames, and Darron Kattan from Franklin Street.

Players

Darron Kattan

Franklin Street

Broker

$376M

vol

15 deals

Broker

Ivonne P. Garcia

Seller

$10.3M

vol

2 deals

Seller

Saint Petersburg 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

2.22%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93