Robin Cruise Acquires Multifamily Property In Pembroke Pines For $6.6M
SOLD
$6,600,000
+ 2
Florida
See Similar DealsMultiFamily30,300 SF
Sold 12/03/2021
SOLD
Robin Cruise Acquires Multifamily Property In Pembroke Pines For $6.6M
7777 Pines Boulevard, Pembroke Pines, Florida 33024, United States
See Similar DealsMultiFamily30,300 SF
Sold 12/03/2021
+ 2
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$217
Total Square Footage:30,300 SF
Transaction Type:Sale
Located at 7777 Pines Boulevard in Pembroke Pines, this multifamily property was recently sold. The transaction took place on December 3, 2021, with a sale price of $6,600,000. The property consists of 44 units, with each unit having an approximate price per unit (PPU) of $150,000. The total square footage of the property is 30,300, resulting in a price per square foot (PPSF) of $218.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,600,000
- Address: 7777 Pines Boulevard
- Market: Pembroke Pines
The buyer in this transaction was Robin Cruise, while the seller was Boris Ovrutsky. The deal was facilitated by brokers Joseph Thomas, Adam Duncan, and Marisol Hernandez from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$352,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,448.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,287.37
Annual Debt Service$375,448.41
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