Tango-76 Group LLC Acquires Multifamily Asset In Pembroke Pines For $6.4M
SOLD
$6,400,000
Florida
See Similar DealsMultiFamily
Sold 04/01/2024
SOLD
Tango-76 Group LLC Acquires Multifamily Asset In Pembroke Pines For $6.4M
6840 Pembroke Road & 1871 Southwest 69th Avenue
See Similar DealsMultiFamily
Sold 04/01/2024
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 6840 Pembroke Road & 1871 Southwest 69th Avenue in Pembroke Pines has been sold in a recent transaction. The property consists of 35 units, with a sale price of $6,400,000, equating to approximately $182,857 per unit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,400,000
- Buyer: Dario & Lisa Garcia-Ibanez - Tango-76 Group LLC
- Seller: Deepak Khosa - 6840 Pembroke LLC
- Brokers: Joseph Thomas & Alec Demetriou - Marcus & Millichap
The deal was facilitated by Joseph Thomas and Alec Demetriou from Marcus & Millichap, representing the buyer and seller respectively. The buyers, Dario & Lisa Garcia-Ibanez of Tango-76 Group LLC, successfully acquired the property from the seller, Deepak Khosa of 6840 Pembroke LLC, in a noteworthy transaction within the Pembroke Pines market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$341,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,737.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,339.27
Annual Debt Service$364,071.18
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