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
Saint Petersburg MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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