Ron Lau Acquires Condo From Ale Lopez In Miami For $1.28M Via Dimitri Joseph
SOLD
$1,280,000
Florida
See Similar DealsCondo1,400 SF
Sold 04/17/2024
SOLD
Ron Lau Acquires Condo From Ale Lopez In Miami For $1.28M Via Dimitri Joseph
88 Southwest 7th Street
See Similar DealsCondo1,400 SF
Sold 04/17/2024
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$914
Total Square Footage:1,400 SF
Transaction Type:Sale
The condo located at 88 Southwest 7th Street in Miami was successfully sold for $1,280,000. This property spans 1,691 square feet, equating to a price per square foot of $757. The sale was facilitated by Dimitri Joseph from Douglas Elliman Real Estate, representing the seller Ale Lopez of Gramps Bay and the buyer Ron Lau.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $1,280,000
- Buyer: Ron Lau
- Seller: Ale Lopez - Gramps Bay
- Broker: Dimitri Joseph - Douglas Elliman Real Estate
- Address: 88 Southwest 7th Street, Miami
- Square Footage: 1,691
- Price per Square Foot: $757
The successful transaction involved Ron Lau as the buyer, Ale Lopez from Gramps Bay as the seller, and Dimitri Joseph from Douglas Elliman Real Estate as the broker. Each of these individuals played a key role in the seamless completion of this real estate deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$68,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,547.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,067.85
Annual Debt Service$72,814.24
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