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Amy Raff & Abe Rotchel Acquire Fort Lauderdale SFR For $2.6M

Property Image
SOLD
$2,600,000
Madeline Cajote

Florida

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Single Family Residence7,167 SF
Sold 12/18/2020
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Property Image
SOLD

Amy Raff & Abe Rotchel Acquire Fort Lauderdale SFR For $2.6M

1600 South Ocean Drive, Fort Lauderdale, FL, USA

See Similar Deals
Single Family Residence7,167 SF
Sold 12/18/2020
Madeline Cajote
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Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$362
Total Square Footage:7,167 SF
Transaction Type:Sale

The recently closed property transaction in Fort Lauderdale involved the sale of a single-family residence located at 1600 South Ocean Drive. This spacious property spans approximately 7,167 square feet, offering ample living space for its new owners. The transaction took place on December 18, 2020, with a sale price of $2,600,000. With a price per square foot of $363, this property demonstrates its inherent value in the market.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $2,600,000
  • Date: 12/18/2020
  • Address: 1600 South Ocean Drive
  • Market: Fort Lauderdale

The property was purchased by Amy Raff and Abe Rotchel, while Thomas White and Scott Watkins acted as the sellers. The deal was facilitated by Madeline Cajote and Harrison Whiddon of Better Homes and Gardens Real Estate, serving as the brokers in this transaction. Their expertise in the Fort Lauderdale market was instrumental in ensuring a successful deal.

By seamlessly connecting buyers and sellers, Madeline Cajote and Harrison Whiddon helped negotiate a fair price for this impressive residence, benefiting both parties involved. Their professionalism and commitment to their clients were evident throughout the transaction.

Players

2 deals$27.6M volume
BROKER


Details

SOLD
IMAGE: Madeline Cajote, David Cassidy, & Harrison Whiddon DATE: 12/18/2020 ADDRESS: 1600 South Ocean Drive MARKET: Fort Lauderdale ASSET TYPE: SFR BUYERS: Amy Raff & Abe Rotchel SELLERS: Thomas White & Scott Watkins BROKERS: Madeline Cajote & Harrison Whiddon - Better Homes and Gardens Real Estate PRICE: $2,600,000 SF: 7,167 ~ PPSF: $363

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

$138,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92