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IMC Equity Group Acquires Multifamily Property In Marathon For $12.5M

Property Image
SOLD
$12,500,000
Miri Brecher
Jill Douglas

Florida

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MultiFamily35,000 SF
Sold 12/15/2021
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Property Image
SOLD

IMC Equity Group Acquires Multifamily Property In Marathon For $12.5M

8700 Overseas Highway, Marathon, Florida 33050, United States

See Similar Deals
MultiFamily35,000 SF
Sold 12/15/2021
Miri Brecher
Jill Douglas
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$357
Total Square Footage:35,000 SF
Transaction Type:Sale

The multifamily property located at 8700 Overseas Hwy in Marathon has been sold for a total price of $12,500,000. The property consists of 46 units, with an average price per unit of $271,739. The total square footage of the property is 35,000, resulting in a price per square foot of $357.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $12,500,000
  • Units: 46
  • Price per Unit: $271,739
  • Total Square Footage: 35,000
  • Price per Square Foot: $357
  • Market: Marathon

The buyer of the property is IMC Equity Group, while the seller is Index Investment Group. Representing the buyer is Miri Brecher, and representing the seller is Jill Douglas from Coldwell Banker Realty.

Players

Miri Brecher
Miri Brecher
4 deals$90.3M volume
BROKER
Jill Douglas
Coldwell Banker
Jill Douglas
2 deals$52.5M volume
BROKER
IG
IMC Equity Group
BUYER
IG
Index Investment Group
SELLER

Details

SOLD
IMAGE: Miri Brecher & Jill Douglas DATE: 12/15/2021 ADDRESS: 8700 Overseas Hwy MARKET: Marathon ASSET TYPE: Multifamily BUYER: IMC Equity Group SELLER: Index Investment Group BUYER'S REP: Miri Brecher (@MiamiBeachSunshine) SELLER'S REP: Jill Douglas (@Off_Market_Property) - Coldwell Banker Realty SALE PRICE: $12,500,000 UNITS: 46 ~ PPU: $271,739 SF: 35,000 ~ PPSF: $357

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$44,409.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,256.38
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