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621 NW 2nd St, Ocala, FL, 3...

JE Properties Purchases Property In Ocala With Seller's Representative Fletcher Hultman Of Greysteel
SOLDMultiFamily

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

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.

Players

Fletcher Hultman

Greysteel

Broker

$24M

vol

2 deals

Broker

Ocala 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93