Updated Oct 29, 2024
Morgan Properties Acquires Multifamily Property In Jacksonville For $19.4M
7200 Powers Ave, Jacksonville, FL, USA
$19,370,000
$5,367/SF
Building Size
3,609 SF
Asset Type
MultiFamily
Closing
Mar 4, 2021
About this deal
AI
Jonathan Morgan and Mitchell Morgan have recently sold a multifamily property located at 7200 Powers Ave in Jacksonville. The transaction took place on 03/05/2021 and the property was purchased by Morgan Properties. The property consists of 260 units with a price per unit (PPU) of $74,500. The total sale price for the property was $19,370,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $19,370,000
- Units: 260
- Price Per Unit: $74,500
Morgan Properties acquired the property for a significant investment in the Jacksonville market. This acquisition showcases their commitment to expanding their portfolio in the multifamily sector. The transaction was facilitated by Jonathan Morgan and Mitchell Morgan, representing the seller in the deal.
Players
Jacksonville 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
0.82%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93