Inman Equities Acquires 288-Unit Multifamily Property In Daytona Beach For $29.3M
SOLD
$29,300,000
Florida
See Similar DealsMultiFamily247,376 SF
Sold 02/02/2021
SOLD
Inman Equities Acquires 288-Unit Multifamily Property In Daytona Beach For $29.3M
875 Derbyshire Road, Daytona Beach, FL, USA
See Similar DealsMultiFamily247,376 SF
Sold 02/02/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$118
Total Square Footage:247,376 SF
Transaction Type:Sale
The multifamily property located at 875 Derbyshire Rd in Daytona Beach has been sold for a price of $29,300,000. This transaction, which took place on February 2, 2021, involved a total of 288 units. The price per unit was calculated to be $101,736.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $29,300,000
- Address: 875 Derbyshire Rd, Daytona Beach
- Market: Daytona Beach
- Units: 288
- Price per Unit: $101,736
The buyer in this transaction was Inman Equities, represented by Benjamin Inman. On the other side, the seller was Blue Roc Premier, represented by Randy Ferreira. Both parties played key roles in the successful completion of this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,562,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$104,096.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$138,896.95
Annual Debt Service$1,666,763.38
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