Marseille Property LLC Acquires 16-Unit Multifamily In Miami Beach For $3.03M
SOLD
$3,030,000
Florida
See Similar DealsMultiFamily13,881 SF
Sold 11/01/2022
SOLD
Marseille Property LLC Acquires 16-Unit Multifamily In Miami Beach For $3.03M
1120-1130 Marseille Dr, Miami Beach, FL 33141
See Similar DealsMultiFamily13,881 SF
Sold 11/01/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$218
Total Square Footage:13,881 SF
Transaction Type:Sale
Marseille Property LLC has acquired a multifamily property located at 1120-1130 Marseille Dr in Miami Beach. The transaction was facilitated by broker, Ingrid Andres, from The Island Your Real Estate Company. The property consists of 16 units and spans across 13,881 square feet. The sale price for the property was $3,030,000, resulting in a price per unit of $189,375 and a price per square foot of $218.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,030,000
- Address: 1120-1130 Marseille Dr, Miami Beach
- Market: Miami Beach
- Units: 16
- Price per Unit: $189,375
- Square Footage: 13,881
- Price per Square Foot: $218
This transaction was completed in 4 months, indicating a quick turnaround for the buyer, Marseille Property LLC. The seller, Ariel Gorelik, entered into the deal facilitated by Ingrid Andres from The Island Your Real Estate Company.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$161,599.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,764.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,363.75
Annual Debt Service$172,364.95
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