Costantino Cicchelli And Stefano Garofoli Acquire 14-Unit Multifamily Property In Miami For $2.125M
SOLD
$2,125,000
Florida
See Similar Deals9,648 SF
Sold 12/29/2022
SOLD
Costantino Cicchelli And Stefano Garofoli Acquire 14-Unit Multifamily Property In Miami For $2.125M
1472 Northwest 14th Street
See Similar Deals9,648 SF
Sold 12/29/2022
Summary
FLORIDA
Price Per Square Foot:$220
Total Square Footage:9,648 SF
Transaction Type:Sale
The multifamily property located at 1472 Northwest 14th Street in Miami has been sold for a total price of $2,125,000. The property consists of 14 units, with each unit having a price per unit (PPU) of $151,786. The total square footage of the property is 9,648, resulting in a price per square foot (PPSF) of $220.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,125,000
- Units: 14
- PPU: $151,786
- Square Footage: 9,648
- PPSF: $220
The buyers of the property are Constantino Cicchelli and Stefano Garofoli. The seller of the property is Daniel Grois. Constantino Cicchelli and Stefano Garofoli were represented by Frank Rodriguez Melo from Cedano Realty Advisors. On the other hand, Tony Arellano from DWNTWN Realty Advisors represented Daniel Grois.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$113,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,549.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,073.58
Annual Debt Service$120,883.01
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