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Martin Gayle Acquires Multifamily Property In Pembroke Pines For $3.42M

Property Image
SOLD
$3,420,000
Adam Duncan
Joseph Thomas
+ 1

Florida

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MultiFamily16,700 SF
Sold 12/20/2021
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Property Image
SOLD

Martin Gayle Acquires Multifamily Property In Pembroke Pines For $3.42M

6911 Southwest 19th Street, Pembroke Pines, Florida 33023, United States

See Similar Deals
MultiFamily16,700 SF
Sold 12/20/2021
Adam Duncan
Joseph Thomas
+ 1
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$204
Total Square Footage:16,700 SF
Transaction Type:Sale

A multifamily property located at 6911, 6921, & 6931 Southwest 19th Street in Pembroke Pines has been sold for a total price of $3,420,000. The transaction took place on December 20, 2021. The property consists of 24 units, with an average price per unit of $142,500. The total square footage of the property is 16,700, resulting in a price per square foot of $205.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,420,000
  • Units: 24
  • Price per Unit: $142,500
  • Square Footage: 16,700
  • Price per Square Foot: $205
  • Date: December 20, 2021
  • Market: Pembroke Pines

The buyer of the property is Martin Gayle, while Boris Ovrutsky is the seller. The transaction was facilitated by Joseph Thomas, Adam Duncan, and Marisol Hernandez from the brokerage firm Marcus & Millichap.

Players

Adam Duncan
26 deals$170.8M volume
BROKER

Joseph Thomas
Marcus & Millichap
53 deals$372.9M volume
BROKER

Marisol Hernandez
Marcus & Millichap
6 deals$62.9M volume
BROKER

Details

SOLD
IMAGE: Joseph Thomas, Adam Duncan & Marisol Hernandez DATE: 12/20/2021 ADDRESS: 6911, 6921, & 6931 Southwest 19th Street MARKET: Pembroke Pines ASSET TYPE: Multifamily BUYER: Martin Gayle SELLER: Boris Ovrutsky BROKERS: Joseph Thomas, Adam Duncan & Marisol Hernandez (@PropertiesByMarisol) - Marcus & Millichap SALE PRICE: $3,420,000 UNITS: 24 ~ PPU: $142,500 SF: 16,700 ~ PPSF: $205

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$182,400.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,150.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,212.54
Annual Debt Service$194,550.54