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Marcus & Millichap Sells 160-unit Multifamily Property In Immokalee, Florida For $11.5M

Property Image
SOLD
$11,500,000
Sam Ferguson
Ned Roberts
Jason Hague
+ 1

Florida

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MultiFamily135,600 SF
Sold 03/17/2021
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Sells 160-unit Multifamily Property In Immokalee, Florida For $11.5M

580 Oakhaven Circle

See Similar Deals
MultiFamily135,600 SF
Sold 03/17/2021
Sam Ferguson
Ned Roberts
Jason Hague
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$84
Total Square Footage:135,600 SF
Transaction Type:Sale

A multifamily property located at 580 Oakhaven Cir in Immokalee has been sold for a total of $11,500,000. The property consists of 160 units and was sold at a price of $71,875 per unit.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $11,500,000
  • Units: 160
  • Price Per Unit: $71,875
  • Address: 580 Oakhaven Cir
  • Market: Immokalee

The deal was facilitated by the brokers Adam Podbelski, Ned Roberts, Jason Hague, and Sam Ferguson from Marcus & Millichap.

Players

Adam Podbelski
Marcus & Millichap
Adam Podbelski
19 deals$130.8M volume(239) 340-7812
BROKER
Jason Hague
Marcus & Millichap
Jason Hague
26 deals$228.4M volume
BROKER
Ned Roberts
Marcus & Millichap
Ned Roberts
26 deals$190.8M volume
BROKER
Sam Ferguson
Marcus & Millichap
Sam Ferguson
7 deals$47.4M volume
BROKER

Details

SOLD
IMAGE: Sam Ferguson, Adam Podbelski, Ned Roberts & Jason Hague DATE: 03/17/2021 ADDRESS: 580 Oakhaven Cir MARKET: Immokalee ASSET TYPE: Multifamily BROKERS: Adam Podbelski, Ned Roberts, Jason Hague & Sam Ferguson - Marcus & Millichap PRICE: $11,500,000 UNITS: 160 PPU: $71,875

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

$613,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$40,857.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,515.87
Annual Debt Service$654,190.40