Sheridan Capital Arranges $2.75M Acquisition Loan For Miami Multifamily Property
326 Southwest 13th Avenue
$2,750,000
$110/SF
Building Size
24,986 SF
Asset Type
MultiFamily
Closing
Jan 10, 2024
AI
The property asset involved in this transaction is a multifamily building located at 326 Southwest 13th Avenue in Miami. The property consists of 40 units and has a total square footage of 24,986. The loan for this acquisition amounts to $2,750,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,750,000
- Address: 326 Southwest 13th Avenue
- Market: Miami
- Units: 40
- Square Footage: 24,986
- Loan Type: Acquisition Loan
The key individuals involved in this transaction include brokers Lee Schwartz and Michael Yassky, representing Sheridan Capital in the deal.
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
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93