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3024 Southwest 16th Terrace

Santosh Subramaniam & Rithika Maharajan Sell Townhouse In Miami For $1.08M With Ralph Garcia As Buyer's Rep
SOLDCondo

Santosh Subramaniam & Rithika Maharajan Sell Townhouse In Miami For $1.08M With Ralph Garcia As Buyer's Rep

3024 Southwest 16th Terrace

$1,080,000

$492/SF

Building Size

2,195 SF

Asset Type

Condo

Closing

Dec 29, 2025

AI

The property involved in the transaction is a townhouse located at 3024 Southwest 16th Terrace Unit 3024 in Miami. The asset was sold for $1,080,000, encompassing a total square footage of 2,195, which results in a price per square foot of $492.

Summary of transaction details:

  • Property Type: Townhouse
  • Transaction Amount: $1,080,000
  • Address: 3024 Southwest 16th Terrace Unit 3024
  • Market: Miami
  • Seller: Santosh Subramaniam & Rithika Maharajan
  • Buyer's Representative: Ralph Garcia, PA - The Keyes Company
  • Square Footage: 2,195
  • Price per Square Foot: $492

Ralph Garcia, PA represented the buyers in this closed transaction, securing the property for his clients $115,000 below the asking price. He expressed congratulations to the buyers on their deal and invited potential clients seeking similar opportunities to reach out.

Players

Ralph Garcia

The Keyes Company

Broker

$8M

vol

6 deals

Broker
The Keyes Company
The Keyes CompanyBrokerage

Miami Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

14.69%

Cash-on-Cash

-4.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93