Will Murray Acquires Edgewater Condo On NE 31st St For $3.4M
SOLD
$3,375,000
Florida
See Similar Deals2,112 SF
Sold 03/29/2022
SOLD
Will Murray Acquires Edgewater Condo On NE 31st St For $3.4M
480 Northeast 31st Street, Miami, Florida 33137, United States
See Similar Deals2,112 SF
Sold 03/29/2022
Summary
FLORIDA
Price Per Square Foot:$1,598
Total Square Footage:2,112 SF
Transaction Type:Sale
An Edgewater condo located at 480 NE 31st St has been sold for a price of $3,375,000. The property, with a total square footage of 2,112, was purchased by Will Murray from seller Jean Luc El Houeiss. The transaction took place on March 29, 2022. The selling agent for this deal was Nathan Kakon from Charles Rutenberg Realty.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $3,375,000
- Square Footage: 2,112
- Price per Square Foot: $1,598
- Market: Edgewater
- Buyer: Will Murray
- Seller: Jean Luc El Houeiss
- Broker: Nathan Kakon - Charles Rutenberg Realty
Nathan Kakon of Charles Rutenberg Realty represented the seller, Jean Luc El Houeiss, in this transaction. The property is situated in the desirable neighborhood of Edgewater, offering a spacious living space of 2,112 square feet. With a purchase price of $3,375,000 and a price per square foot of $1,598, this condo provides a great investment opportunity in the Edgewater market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$180,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,990.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,999.22
Annual Debt Service$191,990.66
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