German Andres Guzman Acquires Multifamily Property In Cutler Bay For $24.5M
SOLD
$24,500,000
Florida
See Similar DealsMultiFamily102,685 SF
Sold 10/27/2021
SOLD
German Andres Guzman Acquires Multifamily Property In Cutler Bay For $24.5M
11050 Southwest 197th Street, Cutler Bay, FL 33157, USA
See Similar DealsMultiFamily102,685 SF
Sold 10/27/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$238
Total Square Footage:102,685 SF
Transaction Type:Sale
A multifamily property located at 11050 SW 197th Street in Cutler Bay has been sold for a price of $24,500,000. The property consists of 144 units, with each unit having an average price per unit (PPU) of $170,139. The total square footage of the property is 102,685, and the price per square foot (PPSF) is $239.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $24,500,000
- Units: 144
- PPU: $170,139
- Square Footage: 102,685
- PPSF: $239
- Address: 11050 SW 197th Street, Cutler Bay
- Market: Cutler Bay
The buyer of the property is German Andres Guzman, while the seller is Robert T. & Sofia C. Castro. The transaction was facilitated by brokers Calum Weaver and Perry Synanidis from Cushman & Wakefield.
Players
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,306,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$87,043.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$116,142.50
Annual Debt Service$1,393,709.99
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