Updated Sep 9, 2024
Marcus & Millichap Secures $12.96M Refinance Loan For Miami Multifamily Property
415 NW 9th St Miami, FL 33136, USA
$12,960,000
$248/SF
Building Size
52,166 SF
Asset Type
MultiFamily
Closing
Jun 20, 2023
About this deal
AI
A multifamily property located at 415 Northwest 9th Street in Miami, FL has been successfully refinanced. The property spans over 52,166 square feet and consists of 92 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,960,000
- Loan Type: Refinance
- Loan Terms: Bank Loan: 72% LTV, 5.95% Rate, IO w/ 30 yr Amo, Non-Recourse, Stepdown Prepayment
The refinance transaction was facilitated by Robert Bhat of Marcus & Millichap. Robert Bhat acted as the broker in this deal. Low rates are still available for competitive bank financing. For more information, please reach out to [email protected].
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93