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Justin Sult & Andrew Smith Acquire Fort Lauderdale Multifamily For $3.25M

Property Image
SOLD
$3,250,000

Florida

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MultiFamily8,272 SF
Sold 10/21/2022
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Property Image
SOLD

Justin Sult & Andrew Smith Acquire Fort Lauderdale Multifamily For $3.25M

740 Northeast 13th Court, Fort Lauderdale, Florida 33304, United States

See Similar Deals
MultiFamily8,272 SF
Sold 10/21/2022
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$392
Total Square Footage:8,272 SF
Transaction Type:Sale

The multifamily property located at 740-748 NE 13th CT in Fort Lauderdale, FL has been sold. The transaction took place on 10/21/2022. The property spans 8,272 square feet and was sold for a price of $3,250,000, resulting in a price per square foot of $392.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $3,250,000
  • Address: 740-748 NE 13th CT, Fort Lauderdale, FL
  • Square Footage: 8,272
  • Price per Square Foot: $392

The buyers in this transaction were Justin Sult and Andrew Smith. The sellers were Steven R Buehrer and Lynne B Buehrer.

Players

2 deals$5.4M volume
BUYER

4 deals$15M volume
BUYER

Details

SOLD
IMAGE: 10/21/2022 ADDRESS: 740-748 NE 13th CT MARKET: Fort Lauderdale, FL ASSET TYPE: Multifamily BUYER: Justin Sult & Andrew Smith SELLER: Steven R Buehrer & Lynne B Buehrer PRICE: $3,250,000 SF: 8,272 ~ PPSF: $392

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$173,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,546.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,406.66
Annual Debt Service$184,879.90