Updated Oct 28, 2024
Rental Asset Management Secures $10.7M Loan For Hialeah Multifamily
1035 West 71st Street, Hialeah, FL 33014, USA
$10,700,000
Units
112
Asset Type
MultiFamily
Closing
Aug 31, 2021
About this deal
AI
Located in Hialeah, the multifamily property at 1035-1055 West 71st Street has recently undergone a closed transaction. The property, managed by Rental Asset Management (RAM), consists of 112 units and was the subject of a loan deal.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,700,000
- Loan: Freddie Mac provided a 10-year, fixed rate loan for the transaction
- Brokers: Mitch Sinberg & Matthew Robbins - Berkadia
Leading the deal, Mitch Sinberg and Matthew Robbins from Berkadia acted as the brokers representing the parties involved. The loan provided by Freddie Mac allowed for the successful completion of this closed transaction.
Players
Hialeah MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.48%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93