Corinthian Waterford Prop LLC Acquires Margate Multifamily For $20.6M
SOLD
$20,600,000
+ 2
Florida
See Similar DealsMultiFamily95,004 SF
Sold 12/03/2021
SOLD
Corinthian Waterford Prop LLC Acquires Margate Multifamily For $20.6M
6954 Southwest 5th Street, Margate, FL, USA
See Similar DealsMultiFamily95,004 SF
Sold 12/03/2021
+ 2
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$216
Total Square Footage:95,004 SF
Transaction Type:Sale
The multifamily property located at 6954 SW 5th Street in Margate has been sold for a total price of $20,600,000. The property consists of 116 units, making the price per unit $177,586. The sale took place on 12/03/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $20,600,000
- Address: 6954 SW 5th Street, Margate
- Market: Margate
The buyer of the property is Corinthian Waterford Prop LLC. The seller is Victoria One Management, represented by Jerry Slubowsky, Ricardo Ulloa, and Todd Linden. The seller's counsel for the transaction was Marc Kleiner from Kleiner Law Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,098,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$73,187.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$97,654.51
Annual Debt Service$1,171,854.12
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