Ocean Drive Clevelander Inc Acquires Condo On 1330 Ocean Drive In Miami Beach For $5.25M
SOLD
Florida
See Similar DealsCondo3,080 SF
Sold 05/05/2023
SOLD
Ocean Drive Clevelander Inc Acquires Condo On 1330 Ocean Drive In Miami Beach For $5.25M
1330 Ocean Drive R9a
See Similar DealsCondo3,080 SF
Sold 05/05/2023
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$1,704
Total Square Footage:3,080 SF
Transaction Type:Sale
This off-market condo is located at 1330 Ocean Drive in Miami Beach. It was sold for $5,250,000, encompassing a total square footage of 3,080, which translates to a price per square foot of $1,705.
Summary of transation details:
- Property Type: Condo
- Transaction Amount: $5,250,000
- Address: 1330 Ocean Drive, Miami Beach
- Square Footage: 3,080
- Price Per Square Foot: $1,705
- Buyer: Ocean Drive Clevelander Inc - Anthony J. Karpawich
- Seller: Scarlet Begonias
- Broker: Maria Corina Sosa - Compass
The transaction involved the buyer, Ocean Drive Clevelander Inc, represented by Anthony J. Karpawich. The property was listed by seller Scarlet Begonias with broker Maria Corina Sosa from Compass, facilitating the sale in a closed transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$280,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,652.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,887.68
Annual Debt Service$298,652.14
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