Updated Oct 13, 2026
Davis Howell Of Safe Harbor Investments Acquires Multifamily Complex From Muhamed Becovic For $37.75M
780 Island Point Drive
$37,750,000
Units
192
Asset Type
MultiFamily
Closing
Aug 15, 2025
About this deal
AI
The property involved in the transaction is a multifamily asset located at 780 Island Point Drive, Jacksonville, spanning 22.77 acres. The asset consists of a 192-unit complex constructed in 2023, with a sale price of $37,750,000, translating to approximately $196,615 per unit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $37,750,000
- Units: 192
- Price Per Unit: $196,615
- Seller: Muhamed Becovic - Becovic Management Group
- Buyer: Davis Howell - Safe Harbor Investments
This deal was facilitated by the involvement of Davis Howell representing Safe Harbor Investments and Muhamed Becovic representing Becovic Management Group in the transaction.
On the Map
$37,750,000
MultiFamily
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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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93