Kevin Lu Acquires Sunny Isles Beach Condo For $2.25M
SOLD
$2,250,000
Florida
See Similar DealsCondo1,589 SF
Sold 06/15/2020
SOLD
Kevin Lu Acquires Sunny Isles Beach Condo For $2.25M
18975 Collins Avenue
See Similar DealsCondo1,589 SF
Sold 06/15/2020
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$1,416
Total Square Footage:1,589 SF
Transaction Type:Sale
A condo located at 18975 Collins Avenue in Sunny Isles Beach was recently sold in a transaction on June 15, 2021. The property, spanning 1,589 square feet, was sold for a sale price of $2,250,000. The condo offers a price per square foot of $1,416.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $2,250,000
- Address: 18975 Collins Avenue, Sunny Isles Beach
- Buyer: Kevin Lu
- Seller: Rafael Mathias
- Buyer's Representative: Christopher Adeleke & Angelica Garcia - Douglas Elliman Florida, Coral Gables Title & Escrow
The buyer in this transaction was Kevin Lu, while the seller was Rafael Mathias. Representing the buyer was Christopher Adeleke and Angelica Garcia from Douglas Elliman Florida, Coral Gables Title & Escrow.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$120,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,993.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,666.15
Annual Debt Service$127,993.77
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