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Joe Levy And Jonathan Levy Acquire Multifamily Asset At 300 Sunset Drive For $5.77M

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SOLD
$5,770,000

Florida

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MultiFamily15,487 SF
Sold 07/12/2024
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Property Image
SOLD

Joe Levy And Jonathan Levy Acquire Multifamily Asset At 300 Sunset Drive For $5.77M

300 Sunset Drive

See Similar Deals
MultiFamily15,487 SF
Sold 07/12/2024
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$372
Total Square Footage:15,487 SF
Transaction Type:Sale

The property involved in this transaction is a multifamily asset located at 300 Sunset Drive in Fort Lauderdale. The sale price was $5,770,000, and the asset consists of 16 units spread across a total of 15,487 square feet, resulting in a price per unit of $360,625 and a price per square foot of $373.

Summary of transaction details:

The deal was facilitated by brokers Fredrick Klein and Jonathan Singer from Riviera Horizons, a company that specializes in the procurement of on and off-market development opportunities in South Florida, with an emphasis on covered land. Interested parties can contact them for opportunities or insights into the South Florida market at the provided phone numbers.

Players

Fredrick Klein
3 deals$24.9M volume
BROKER

Jonathan E Singer
Strato Partners
4 deals$27M volume(786) 223-3632
BROKER

Details

SOLD
IMAGE: Fredrick Klein, Jonathan Levy & Joe Levy DATE: 07/12/2024 ADDRESS: 300 Sunset Drive MARKET: Fort Lauderdale ASSET TYPE: Multifamily BUYER: Joe Levy & Jonathan Levy SELLER: Audy Unison BROKERS: Fredrick Klein (@FredKlein) & Jonathan Singer (@_JSinger) - Riviera Horizons SALE PRICE: $5,770,000 UNITS: 16 ~ PPU: $360,625 SF: 15,487 ~ PPSF: $373 NOTE FROM BROKER: Riviera Horizons specializes in the procurement of on and off market development opportunities in South Florida with a focus on covered land. Please reach out if you are looking for opportunities and or insight into the South Florida market. (305)-773-3311 or (786)-223-3632

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

$307,733.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,499.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,352.74
Annual Debt Service$328,232.92