Updated Dec 4, 2024
Billy Ochaita Purchases Development Site In Miami For $1.25M
745 Southwest 3rd Street
$1,250,000
Building Size
—
Asset Type
Development Site
Closing
Feb 28, 2024
About this deal
AI
The development site located at 745 Southwest 3rd Street in Miami was recently sold for $1,250,000. The transaction involved Billy Ochaita as the buyer and Alex Lam as the seller. The property was facilitated for sale by Carlos Fausto Miranda and Mauricio Villasuso of Fausto Commercial Realty Consultants.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,250,000
- Address: 745 Southwest 3rd Street
- Market: Miami
Carlos Fausto Miranda and Mauricio Villasuso, representing Fausto Commercial Realty Consultants, were the brokers involved in the sale of the development site. The transaction took place on 02/28/2024, marking a noteworthy deal in the Miami real estate market.
On the Map
$1,250,000
Development Site
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Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93