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Bobby Diaz Of Diaz Construction LLC Sells 100-Unit Multifamily Property In Valdosta For $18.3M
SOLD
$18,300,000
Georgia
See Similar DealsMultiFamily
Sold 04/08/2025
SOLD
Bobby Diaz Of Diaz Construction LLC Sells 100-Unit Multifamily Property In Valdosta For $18.3M
805 Harmon Drive
See Similar DealsMultiFamily
Sold 04/08/2025
Summary
GEORGIA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily asset sold is the 100-unit 805 Harmon Heights Apartments & Condos located at 805 Harmon Drive in Valdosta, GA. The property was transacted for a total of $18.3 million, equating to $183,000 per unit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $18,300,000
- Units: 100
- Price Per Unit: $183,000
- Seller: Bobby Diaz - Diaz Construction LLC
- Broker Representatives: John Leonard & John Brigel - Marcus & Millichap
The transaction was concluded with an undisclosed buyer based in Tennessee. Bobby Diaz represented the selling entity, Diaz Construction LLC, while John Leonard and John Brigel acted as the brokerage representatives facilitating the sale through Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$976,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$65,016.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,751.34
Annual Debt Service$1,041,016.03
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