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Dwntwn Realty Advisors Acquires Multifamily Property In Little River For $13.3M

Property Image
SOLD
$13,300,000
Devlin Marinoff
Alfredo Riascos
Tony Arellano
+ 1

Florida

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MultiFamily95,000 SF
Sold 10/27/2022
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Property Image
SOLD

Dwntwn Realty Advisors Acquires Multifamily Property In Little River For $13.3M

8038 Northeast 2nd Avenue

See Similar Deals
MultiFamily95,000 SF
Sold 10/27/2022
Devlin Marinoff
Alfredo Riascos
Tony Arellano
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$140
Total Square Footage:95,000 SF
Transaction Type:Sale

The multifamily property located at 8038 NE 2nd Avenue in Little River has been sold for a total price of $13,300,000. Spanning across 95,000 square feet, the property is valued at $140 per square foot.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $13,300,000
  • Address: 8038 NE 2nd Avenue
  • Market: Little River

The sale of this multifamily property was facilitated by Thomas Conway from Qualcon Little River, representing the seller. The buyer, on the other hand, was represented by Tony Arellano and Devlin Marinoff from Dwntwn Realty Advisors. Alfredo Riascos from Gridline Properties acted as the seller's representative in the transaction.

Players

Tony Arellano
DWNTWN Realty Advisors
Tony Arellano
152 deals$1.6B volume
BROKER
Alfredo Riascos
Gridline Properties
Alfredo Riascos
48 deals$299.2M volume(305) 507-7098
BROKER
Devlin Marinoff
DWNTWN Realty Advisors
Devlin Marinoff
51 deals$833.5M volume(917) 312-2219
BROKER
TC
Thomas Conway
2 deals$31.5M volume
SELLER

Details

SOLD
IMAGE: Devlin Marinoff, Alfredo Riascos & Tony Arellano DATE: 10/27/2022 ADDRESS: 8038 NE 2nd Avenue MARKET: Little River ASSET TYPE: Multifamily SELLER: Thomas Conway - Qualcon Little River BUYER'S REP: Tony Arellano (@TonyArellano2) & Devlin Marinoff (@DevlinMarinoff) - Dwntwn Realty Advisors (@DWNTWNRealtyAdvisors) SELLER'S REP: Alfredo Riascos - Gridline Properties (@GridlineProperties) SALE PRICE: $13,300,000 SF: 95,000 ~ PPSF: $140

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

$709,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$47,252.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,048.79
Annual Debt Service$756,585.42