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Prospect Real Estate Group And Midtown Capital Partners Acquire Lauderhill MultiFamily For $8.65M

Property Image
SOLD
$8,650,000

Florida

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MultiFamily278,784 SF
Sold 08/30/2023
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Property Image
SOLD

Prospect Real Estate Group And Midtown Capital Partners Acquire Lauderhill MultiFamily For $8.65M

8456 8458 W Commercial Blvd Tamarac, Fl 33351, Usa

See Similar Deals
MultiFamily278,784 SF
Sold 08/30/2023
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$31
Total Square Footage:278,784 SF
Transaction Type:Sale

The MultiFamily property located at 8456-8458 West Commercial Boulevard in Lauderhill has been sold for a total amount of $8,650,000. This property consists of 275 units, with an average price per unit of $31,455. The total square footage of the property is 278,784, with a price per square foot of $31. The transaction was facilitated by Ignacio Cattaneo from Bm2 Realty.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $8,650,000
  • Units: 275
  • Price Per Unit: $31,455
  • Square Footage: 278,784
  • Price Per Square Foot: $31
  • Market: Lauderhill

On the buyer's side, the Prospect Real Estate Group, represented by Richard G. Zahn, Sr and Michele Zahn, along with Midtown Capital Partners, represented by Alexander Saieh and Alejandro Velez, acquired the property. The sellers, the Parabens Group, were represented by Luciano Miguel Gesuiti and Diego Besga. It was an important transaction for all parties involved, showcasing the collaboration of various professionals in the real estate industry.

Players

1 deal$8.7M volume(305) 933-8889
BROKER


2 deals$16.7M volume
SELLER

Details

SOLD
IMAGE: Ignacio Cattaneo DATE: 08/30/2023 ADDRESS: 8456-8458 West Commercial Boulevard MARKET: Lauderhill ASSET TYPE: MultiFamily BUYER: Prospect Real Estate Group Richard G. Zahn, Sr & Michele Zahn; Midtown Capital Partners - Alexander Saieh & Alejandro Velez SELLER: Parabens Group - Luciano Miguel Gesuiti & Diego Besga BROKER: Ignacio Cattaneo - Bm2 Realty SALE PRICE: $8,650,000 UNITS: 275 ~ PPU: $31,455 SF: 278,784 ~ PPSF: $31

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

$461,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$30,731.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,005.41
Annual Debt Service$492,064.96