Santiago Alvarez Acquires Multifamily Property In Lauderdale Lakes From Jerry Slubowski
SOLD
$7,800,000
Florida
See Similar DealsMultiFamily50,856 SF
Sold 10/06/2021
SOLD
Santiago Alvarez Acquires Multifamily Property In Lauderdale Lakes From Jerry Slubowski
4711 Northwest 24th Court, Lauderdale Lakes, FL, USA
See Similar DealsMultiFamily50,856 SF
Sold 10/06/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$153
Total Square Footage:50,856 SF
Transaction Type:Sale
Santiago Alvarez has purchased a multifamily property located at 4711-4757 NW 24th Court in Lauderdale Lakes. The property consists of 78 units, with a total square footage of 50,856. The asking price and sale price for this transaction were both $7,800,000, resulting in a price per unit of $100,000 and a price per square foot of $153.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,800,000
- Units: 78
- Price per Unit: $100,000
- Square Footage: 50,856
- Price per Square Foot: $153
The buyer representative for this deal is Felipe Echarte, Jr. from Marcus & Millichap, while the seller is Jerry Slubowski. Both parties were represented by brokers Felipe Echarte, Jr. and Evan Kristol from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$415,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,711.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,975.98
Annual Debt Service$443,711.75
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