Updated Oct 29, 2024
JE Properties Purchases Property In Ocala With Seller's Representative Fletcher Hultman Of Greysteel
621 NW 2nd St, Ocala, FL, 34475
Building Size
—
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
The property involved in this transaction is Parkside Gardens, a Section 8 affordable multifamily community located at 621 NW 2nd St, Ocala, FL, 34475. The community, built in 1970, comprises 144 apartments. The market for this property is Ocala.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Undisclosed
- Address: 621 NW 2nd St, Ocala, FL, 34475
- Market: Ocala
- Seller: Community Housing Partners
- Buyer: JE Properties
- Seller's Representative: Fletcher Hultman - Greysteel
Fletcher Hultman of Greysteel represented the seller, Community Housing Partners, and played a role in procuring the buyer, JE Properties, for the acquisition of Parkside Gardens. The buyer intends to rehabilitate the property to improve its condition and enhance the living experience for the residents.
On the Map
MultiFamily
View full map
Players
Ocala MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Browse Florida multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93