Robin Cruise Acquires Multifamily Portfolio In West Palm Beach For $11.03M
692 Neil Road, West Palm Beach, FL, USA
$11,039,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 27, 2021
AI
A multifamily property located at 692 Neil Road, 535 Palmetto Street, 4224 Park Lane, 4509-4539 Gulfstream Road, 617-625 South F Street, 4172 & 4177 Narcissus Avenue, 5855 South 37th Street, 3025 Perry Avenue, 3662 Davis Road, 307-329 Melody Lane & 312 Mockingbird Lane in West Palm Beach, Lake Worth, Greenacres, Palm Springs, and Lantana has been sold in a closed transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,039,000
- Units: 83
- Price Per Unit (PPU): $133,000
- Buyer: Robin Cruise
- Seller: Reijo Lahteenmaki
- Broker: Virgilio Fernandez - Colliers
- Date: 08/27/2021
- Market: West Palm Beach, Lake Worth, Greenacres, Palm Springs, and Lantana
Virgilio Fernandez from Colliers represented Robin Cruise as the broker in the transaction.
Players
West Palm Beach 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93