RLMM Real Estate LLC Acquires Palm Beach Gardens Single Family For $11M
SOLD
$11,000,000
+ 1
Florida
See Similar DealsSingle Family Residence9,306 SF
Sold 08/02/2022
SOLD
RLMM Real Estate LLC Acquires Palm Beach Gardens Single Family For $11M
14958 Palmwood Road, West Palm Beach, Florida 33410, United States
See Similar DealsSingle Family Residence9,306 SF
Sold 08/02/2022
+ 1
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,182
Total Square Footage:9,306 SF
Transaction Type:Sale
The single-family property located at 14958 Palmwood Road in Palm Beach Gardens has been sold for a total of $11 million. The sale took place on 08/02/2022, with RLMM Real Estate LLC, represented by Robert & Myron "Mosie" Miller, acquiring the asset from Rizhin Holdings LLC, represented by Aaron Levine & Joshua Gross.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $11,000,000
- Address: 14958 Palmwood Road
- Market: Palm Beach Gardens
- Buyer: RLMM Real Estate LLC - Robert & Myron "Mosie" Miller
- Seller: Rizhin Holdings LLC - Aaron Levine & Joshua Gross
- Buyer's Representative: Vince Marotta - Illustrated Properties
- Seller's Representative: Jennifer Hyland - The Peters + Hyland Group - Corcoran
- Square Footage: 9,306
- Price per square foot: $1,182
Vince Marotta of Illustrated Properties represented the buyer, RLMM Real Estate LLC, while Jennifer Hyland of The Peters + Hyland Group - Corcoran represented the seller, Rizhin Holdings LLC. The property spans over 9,306 square feet and was sold at a price of $1,182 per square foot.
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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