Updated Oct 28, 2024
S3 Capital Provides $2.45M Construction Loan For East Little Havana Multifamily
228 Northwest 7th Avenue, Miami, FL 33128
$2,450,000
$490/SF
Building Size
5,000 SF
Asset Type
MultiFamily
Closing
Sep 24, 2021
About this deal
AI
Located at 228 NW 7th Ave in East Little Havana, Miami, this multifamily property is a noteworthy investment. With a size of approximately 5,000 square feet, this property consists of 12 units, making it an attractive asset in the area.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,450,000
- Market: East Little Havana, Miami
- Loan Amount: $2,450,000
- Loan Type: Construction
- Landlord: Propolis - Misha Gurevich
- Broker: Eric Gleitman - Mercury Capital Markets
The financing for this transaction was provided by S3 Capital, a trusted lender in the industry. Representing the landlord, Propolis, is Misha Gurevich. Eric Gleitman from Mercury Capital Markets acted as the broker in this deal, bringing the parties together and facilitating a successful transaction.
On the Map
$2,450,000
$490/SF
MultiFamily
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Players
Miami 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
6.47%
Cash-on-Cash
-1.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93