Faheem Sandhu Acquires Miami Beach Condo For $1.9M
SOLD
$1,900,000
Florida
See Similar Deals1,750 SF
Sold 01/19/2022
SOLD
Faheem Sandhu Acquires Miami Beach Condo For $1.9M
450 Alton Road, Miami Beach, FL 33139
See Similar Deals1,750 SF
Sold 01/19/2022
Summary
FLORIDA
Price Per Square Foot:$1,085
Total Square Footage:1,750 SF
Transaction Type:Sale
Ivan Chorney and Selen Arditi of Compass brokered the sale of a condo unit located at 450 Alton Road, Unit 2505 in Miami Beach. The transaction took place on January 19, 2022. The property, spanning 1,750 square feet, was sold for $1,900,000, resulting in a price per square foot of $1,086. The buyer of the condo unit was Faheem Sandhu, while the seller was Steven Jacobs.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $1,900,000
- Date: January 19, 2022
- Address: 450 Alton Road, Unit 2505
- Market: Miami Beach
Ivan Chorney and Selen Arditi of Compass represented the buyer, Faheem Sandhu, in this sale transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$101,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,750.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,006.97
Annual Debt Service$108,083.63
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