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Gary Scott & Stephen Marcuccio Acquire Multi-Family Property In Lake Worth Beach, FL For $4.1M

Property Image
SOLD
$4,100,000

Florida

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MultiFamily11,582 SF
Sold 04/04/2022
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Property Image
SOLD

Gary Scott & Stephen Marcuccio Acquire Multi-Family Property In Lake Worth Beach, FL For $4.1M

911 Federal Highway, Lake Worth, Florida 33460, United States

See Similar Deals
MultiFamily11,582 SF
Sold 04/04/2022
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$354
Total Square Footage:11,582 SF
Transaction Type:Sale

The property at 911 N Federal Hwy & 905 N Federal Hwy in Lake Worth Beach, FL has been sold. The asset type is an Other Multi-Family property, with a total area of 11,582 square feet. The transaction took place on April 4, 2022. The buyers, Gary Scott and Stephen Marcuccio, acquired the property from Iwona Baran and Mariusz Baran. The sale price for the property was $4,100,000, resulting in a price per square foot of $353.

Summary of transaction details

  • Property Type: Other Multi-Family
  • Transaction Amount: $4,100,000
  • Address: 911 N Federal Hwy & 905 N Federal Hwy, Lake Worth Beach, FL
  • Buyer: Gary Scott & Stephen Marcuccio
  • Seller: Iwona Baran & Mariusz Baran
  • Square Footage: 11,582
  • Price per Square Foot: $353

Gary Scott and Stephen Marcuccio were represented by their broker in the transaction. No additional information is available regarding any loans or financing involved in the deal.

Players

3 deals$8.3M volume
BUYER

3 deals$8.3M volume
BUYER

Details

SOLD
IMAGE: 04/04/2022 ADDRESS: 911 N Federal Hwy & 905 N Federal Hwy MARKET: Lake Worth Beach,FL ASSET TYPE: Other Multi-Family BUYER: Gary Scott & Stephen Marcuccio SELLER: Iwona Baran & Mariusz Baran PRICE: $4,100,000 SF: 11,582 ~ PPSF: $353

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

$218,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,566.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,436.09
Annual Debt Service$233,233.10