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American Landmark Apartments Acquires Multifamily Property In Jacksonville For $54.4M

Property Image
SOLD
$54,400,000
Dhaval Patel
Brian Moulder
Bobby Gatling
+ 1

Florida

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MultiFamily1,310 SF
Sold 05/10/2020
the dealplayerscompscontact
Property Image
SOLD

American Landmark Apartments Acquires Multifamily Property In Jacksonville For $54.4M

9849 Crosshill Boulevard

See Similar Deals
MultiFamily1,310 SF
Sold 05/10/2020
Dhaval Patel
Brian Moulder
Bobby Gatling
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$41,526
Total Square Footage:1,310 SF
Transaction Type:Sale

A multifamily property located at 9849 Crosshill Blvd. in Jacksonville has been sold for a total price of $54,400,000. The property consists of 270 units, with an average price per unit of $201,481. The sale took place on May 10, 2021.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $54,400,000
  • Address: 9849 Crosshill Blvd.

American Landmark Apartments, represented by Joe Lubeck, purchased the property from Chadbourne V LLC. The transaction was facilitated by brokers Bobby Gatling, Dhaval Patel, and Brian Moulder from Walker & Dunlop.

Players

Bobby Gatling
Walker & Dunlop
Bobby Gatling
9 deals$549.3M volume(904) 437-5251
BROKER
Brian Moulder
Walker & Dunlop
Brian Moulder
17 deals$1.3B volume(904) 718-8222
BROKER
Dhaval Patel
Dhaval Patel
10 deals$628.8M volume(407) 712-6651
BROKER
Joe Lubeck
American Landmark Apartments
Joe Lubeck
11 deals$563M volume
BUYER

Details

SOLD
IMAGE: Brian Moulder, Dhaval Patel, Joe Lubeck & Bobby Gatling DATE: 05/10/2021 ADDRESS: 9849 Crosshill Blvd. MARKET: Jacksonville ASSET TYPE: Multifamily BUYER: American Landmark Apartments - Joe Lubeck SELLER: Chadbourne V LLC BROKERS: Bobby Gatling, Dhaval Patel & Brian Moulder - Walker & Dunlop SALE PRICE: $54,400,000 UNITS: 270 ~ PPU: $201,481

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

$2,901,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$193,271.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$257,883.75
Annual Debt Service$3,094,605.04