SAR Apartment Capital Acquires Multifamily Property In Gainesville For $16.25M
SOLD
$16,254,000
Florida
See Similar DealsMultiFamily88,088 SF
Sold 01/28/2022
SOLD
SAR Apartment Capital Acquires Multifamily Property In Gainesville For $16.25M
604 Southwest 70th Terrace, Gainesville, Florida 32607, United States
See Similar DealsMultiFamily88,088 SF
Sold 01/28/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$184
Total Square Footage:88,088 SF
Transaction Type:Sale
The multifamily property located at 604 SW 70th Ter in Gainesville has been sold in a recent transaction. The sale was facilitated by brokers Tom Huffsmith and Jad Richa from Capstone Apartment Partners.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $16,254,000
- Number of Units: 208
- Price Per Unit: $78,144
- Buyer: SAR Apartment Capital - Sam Jazayri & Abiel Ballesteros
- Seller: Banta Properties
- Brokers: Tom Huffsmith & Jad Richa - Capstone Apartment Partners
The buyer, SAR Apartment Capital represented by Sam Jazayri and Abiel Ballesteros, acquired the property from Banta Properties. The transaction involved a total of 208 units with a sale price of $16,254,000, resulting in a price per unit of $78,144.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$866,880.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,747.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$77,052.25
Annual Debt Service$924,627.03
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