Updated Apr 5, 2026
Forestwood Investments Acquires Multifamily Asset In Sanford Florida For $10.35M With Multihousing.Com As Seller
711 East 1st Street
$10,350,000
$131/SF
Building Size
78,676 SF
Asset Type
MultiFamily
Closing
Mar 23, 2026
About this deal
AI
The property involved in this transaction is a multifamily asset located at 711 East 1st Street in Sanford, FL. The sale was completed at a price of $10,350,000. This asset consists of 76 units with a price per unit of $136,184. The total square footage of the property is 78,676, providing a price per square foot of $131.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $10,350,000
- Units: 76
- Price Per Unit: $136,184
- Square Footage: 78,676
- Price Per Square Foot: $131
- Buyer: Forestwood Investments/Ralph Gelley
- Seller: Multihousing.Com
- Brokers: Jonathan Brody, Josh Dachs & Michael Schattner - Base Realty Group
The deal highlights the involvement of key individuals, with Ralph Gelley representing the buyer, Forestwood Investments. The seller, Multihousing.Com, is noted as a significant entity in the transaction, while the brokerage team of Jonathan Brody, Josh Dachs, and Michael Schattner from Base Realty Group facilitated the exchange.
On the Map
$10,350,000
$131/SF
MultiFamily
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Players
Sanford 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
1.53%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93