Updated Oct 29, 2024
Main Street Residential Acquires Multifamily Property In Jacksonville For $13.13M
8715 Belle Rive Blvd, Jacksonville, FL, USA
$13,130,000
$176/SF
Building Size
74,464 SF
Asset Type
MultiFamily
Closing
Feb 25, 2021
About this deal
AI
Main Street Residential has acquired a multifamily property located at 8715 Belle Rive Blvd in Jacksonville. The transaction, which took place on February 26, 2021, was facilitated by the real estate firm KRI Properties. The property consists of 104 units, selling at a price of $13,130,000, with a price per unit of $126,250.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,130,000
- Date: 02/26/2021
- Address: 8715 Belle Rive Blvd
- Market: Jacksonville
The transaction was brokered by Cliff Taylor, Joe Ayers, Michael Regan, and Francesco Carriera from CBRE. They represented both the buyer, Main Street Residential, and the seller, KRI Properties.
Players
Jacksonville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $176 per square foot on a published $13.1M for 74,464 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.21%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93