Updated Oct 29, 2024
Stonehaven Properties Acquires Multifamily Property In New Port Richey For $19.5M
5500 Main Street, New Port Richey, FL, USA
$19,500,000
$195/SF
Building Size
100,000 SF
Asset Type
MultiFamily
Closing
Feb 7, 2021
About this deal
AI
The multifamily property located at 5500 Main St in New Port Richey has been sold for a price of $19,500,000. The transaction took place on 02/08/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $19,500,000
- Address: 5500 Main St
- Market: New Port Richey
- Units: 80
- Price Per Unit: $243,750
The buyer of the property is Stonehaven Properties, while the seller is McGurn Management Co. The transaction was facilitated by Joseph Thavis from CBRE.
This deal marks a significant acquisition for Stonehaven Properties in the New Port Richey market. With 80 units, the multifamily property provides ample opportunities for rental income. McGurn Management Co. decided to sell the property, opening doors for a lucrative investment opportunity. Joseph Thavis from CBRE represented Stonehaven Properties in this transaction, showcasing his expertise in facilitating successful real estate deals.
On the Map
$19,500,000
$195/SF
MultiFamily
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Players
New Port Richey 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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93