Updated Dec 19, 2023
Robin Cruise Acquires Multifamily Portfolio In West Palm Beach For $11.03M
692 Neil Road, West Palm Beach, FL, USA
$11,039,000
Units
83
Asset Type
MultiFamily
Closing
Aug 27, 2021
About this deal
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.
On the Map
$11,039,000
MultiFamily
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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