Marilyn Finke Acquires Saint Petersburg Multifamily For $6.41M
SOLD
$6,410,000
Florida
See Similar DealsMultiFamily14 SF
Sold 09/12/2022
SOLD
Marilyn Finke Acquires Saint Petersburg Multifamily For $6.41M
635 12th Avenue Northeast, St. Petersburg, Florida 33701, United States
See Similar DealsMultiFamily14 SF
Sold 09/12/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$457,857
Total Square Footage:14 SF
Transaction Type:Sale
The multifamily property located at 635 12th Ave. NE in Saint Petersburg was recently sold for a total of $6,410,000. The property, owned by Westchester Apartments LLC, consists of 23 units with an average price per unit of $278,696. The total square footage of the property is 14,400, resulting in a price per square foot of $445.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $6,410,000
- Units: 23
- Price per Unit: $278,696
- Square Footage: 14,400
- Price per Square Foot: $445
The buyer of the property is Marilyn Finke, while the seller is Westchester Apartments LLC. The transaction was facilitated by Jay Hennick from Colliers, who represented both parties in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$341,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,773.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,386.67
Annual Debt Service$364,640.04
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