Michael Shehadi Sells Condo In Miami Through Bill Brothers Of Cervera Real Estate For $1.17M
SOLD
$1,170,000
Florida
See Similar DealsCondo1,400 SF
Sold 05/06/2024
SOLD
Michael Shehadi Sells Condo In Miami Through Bill Brothers Of Cervera Real Estate For $1.17M
88 Southwest 7th Street
See Similar DealsCondo1,400 SF
Sold 05/06/2024
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$835
Total Square Footage:1,400 SF
Transaction Type:Sale
The condo located at 88 Southwest 7th Street in Miami, with a square footage of 1,400 SF, was sold by Michael Shehadi to the undisclosed buyer. The sale price for this property was $1,170,000, equating to a price per square foot of $836.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $1,170,000
- Address: 88 Southwest 7th Street, Miami
- Seller: Michael Shehadi
- Broker: Bill Brothers - Cervera Real Estate
Bill Brothers from Cervera Real Estate represented Michael Shehadi in this successful condo sale transaction, showcasing their expertise in the real estate market. The property's value and unique characteristics contributed to the smooth completion of this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$62,400.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,156.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,546.40
Annual Debt Service$66,556.76
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