Updated Dec 19, 2023
Institutional Property Advisors Acquires Multifamily Property In Clearwater For $56.7M
2652 North, McMullen Booth Rd, Clearwater, FL 33761, USA
$56,700,000
$41,538/SF
Building Size
1,365 SF
Asset Type
MultiFamily
Closing
Oct 8, 2020
About this deal
AI
The multifamily property located at 2652 N. McMullen Booth Road in Clearwater has been sold for a total price of $56,700,000. The property consists of 320 units, with a per unit price of $177,187.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $56,700,000
- Units: 320
- Price Per Unit: $177,187
The sale of the property was facilitated by the Institutional Property Advisors (IPA) team, consisting of brokers Shelton Granade, Luke Wickham, and Justin Basquill. They represented the parties involved in the transaction.
Players
Clearwater MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93