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McFig LLC, Carreras Properties LLC, And Lazarous Properties LLC Acquire 59-Unit Multifamily Property In Fort Lauderdale For $13.1M

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SOLD
$13,130,000
Tyler Carbonelli
Adam Duncan
Joseph Thomas

Florida

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MultiFamily
Sold 03/11/2020
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SOLD

McFig LLC, Carreras Properties LLC, And Lazarous Properties LLC Acquire 59-Unit Multifamily Property In Fort Lauderdale For $13.1M

820 North Victoria Park Road, Fort Lauderdale, FL, USA

See Similar Deals
MultiFamily
Sold 03/11/2020
Tyler Carbonelli
Adam Duncan
Joseph Thomas
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located in Fort Lauderdale has been sold for a total of $13,130,000. The property consists of 59 units and is situated at 912, 320 Northeast 15th Avenue; 1606 Northeast Second Court; 207 Southeast 10th Terrace; 315 Southeast 11th Avenue; 408 Northeast Seventh Avenue; 820 North Victoria Park Road; and 86 Isle Venice Drive. The price per unit for this transaction was $222,500.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $13,130,000
  • Units: 59
  • Price Per Unit (PPU): $222,500

McFig LLC represented by Edward F. Figaredo, Carreras Properties LLC represented by Luis Carreras, and Lazarous Properties LLC represented by Lazaro J. Alonso acquired the property from Atlantic Loft LLC (Park Place Financial), Owen Whyte, and Spencer Thwaytes. The transaction was facilitated by brokers Joseph P. Thomas, Adam Duncan, and Tyler Carbonelli from Marcus & Millichap.

Players

Tyler Carbonelli
Colliers
Tyler Carbonelli
4 deals$38.1M volume
BROKER
Adam Duncan
Marcus & Millichap
Adam Duncan
26 deals$170.8M volume
BROKER
Joseph Thomas
Marcus & Millichap
Joseph Thomas
53 deals$372.9M volume
BROKER

Details

SOLD
IMAGE: Joseph P. Thomas, Adam Duncan & Tyler Carbonelli DATE: 03/11/2020 ADDRESS: 912, 320 Northeast 15th Avenue; 1606 Northeast Second Court; 207 Southeast 10th Terrace; 315 Southeast 11th Avenue; 408 Northeast Seventh Avenue; 820 North Victoria Park Road; 86 Isle Venice Drive MARKET: Fort Lauderdale ASSET TYPE: Multifamily BUYER: McFig LLC - Edward F. Figaredo; Carreras Properties LLC - Luis Carreras; Lazarous Properties LLC - Lazaro J. Alonso SELLER: Atlantic Loft LLC (Park Place Financial), Owen Whyte & Spencer Thwaytes BROKERS: Joseph P. Thomas, Adam Duncan & Tyler Carbonelli - Marcus & Millichap PRICE: $13,130,000 UNITS: 59 PPU: $222,500

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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)-$46,648.11
Cash-on-Cash Return-1.27%
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