George Gavros & Dora Gavros Acquire Multifamily Property In Fort Lauderdale For $8.75M
SOLD
$8,750,000
Florida
See Similar DealsMultiFamily28,920 SF
Sold 08/03/2022
SOLD
George Gavros & Dora Gavros Acquire Multifamily Property In Fort Lauderdale For $8.75M
603 Northeast 28th Street, Fort Lauderdale, Florida 33334, United States
See Similar DealsMultiFamily28,920 SF
Sold 08/03/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$302
Total Square Footage:28,920 SF
Transaction Type:Sale
The multifamily property located at 603-611 NE 28th St in Fort Lauderdale, FL has been sold. The transaction took place on August 3, 2022. The property spans a total area of 28,920 square feet and has been sold for a price of $8,750,000. The price per square foot for this transaction stands at $302.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,750,000
- Address: 603-611 NE 28th St, Fort Lauderdale, FL
- Square Footage: 28,920
- Price per Square Foot: $302
The buyers of this multifamily property are George Gavros and Dora Gavros. They have acquired the property from the seller, Domenick Tonacchio.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$466,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,086.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,479.46
Annual Debt Service$497,753.57
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