Prestige Companies Acquires Multifamily Property In Hialeah For $21M
40 West 23rd Street, Hialeah, FL, USA
$21,000,000
$12,069/SF
Building Size
1,740 SF
Asset Type
MultiFamily
Closing
Apr 21, 2021
AI
The multifamily property located at 40 West 23 Street and 2290 Palm Avenue in Hialeah has been involved in a closed transaction. The property, owned by Prestige Companies, represented by Alexander Ruiz and Marty Caparros Jr., has received a loan of $21,000,000. The property consists of 186 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21,000,000
- Address: 40 West 23 Street, 1201 & 2290 Palm Avenue, Hialeah
- Market: Hialeah
The landlords of the property are Prestige Companies, represented by Alexander Ruiz and Marty Caparros Jr. This loan transaction took place on 04/22/2021, providing a significant financial boost for the multifamily property in Hialeah.
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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93