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

Property Image
SOLD
$7,150,000
Darron Kattan
Avery Jordan
Mark Savarese
+ 2

Florida

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MultiFamily64,896 SF
Sold 04/11/2022
the dealplayerscompscontact
Property Image
SOLD

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

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

See Similar Deals
MultiFamily64,896 SF
Sold 04/11/2022
Darron Kattan
Avery Jordan
Mark Savarese
+ 2
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$110
Total Square Footage:64,896 SF
Transaction Type:Sale

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
Darron Kattan
15 deals$376M volume
BROKER
Zachary (Zach) Ames
Franklin Street
Zachary Ames
10 deals$316.1M volume
BROKER
Avery Jordan
Franklin Street
Avery Jordan
11 deals$283.7M volume
BROKER
Mark Savarese
Franklin Street
Mark Savarese
8 deals$251M volume
BROKER
IG
Ivonne P. Garcia
2 deals$10.3M volume
SELLER

Details

SOLD
IMAGE: Mark Savarese, Avery Jordan, Darron Kattan & Zach Ames DATE: 04/11/2022 ADDRESS: 4701 31st St S MARKET: St. Petersburg ASSET TYPE: Multifamily BUYER: Joe Rubin SELLER: Ivonne Garcia BROKERS: Mark Savarese, Avery Jordan, Zach Ames & Darron Kattan - Franklin Street (@FranklinStreet.Cre) SALE PRICE: $7,150,000 UNITS: 44 ~ PPU: $162,500 SF: 64,896 ~ PPSF: $110

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

$381,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$25,402.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,894.65
Annual Debt Service$406,735.77