Tom Castellano Acquires Multifamily Property In Miami For $5.5M
SOLD
$5,500,000
Florida
See Similar DealsMultiFamily20,212 SF
Sold 10/14/2022
SOLD
Tom Castellano Acquires Multifamily Property In Miami For $5.5M
1120 Southwest 5th Street
See Similar DealsMultiFamily20,212 SF
Sold 10/14/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$272
Total Square Footage:20,212 SF
Transaction Type:Sale
Located at 1120 SW 5th St in Miami, FL, this multifamily property was recently sold in a closed transaction for a total price of $5,500,000. The property spans a total area of 20,212 square feet, resulting in a price per square foot of $272.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,500,000
- Address: 1120 SW 5th St, Miami, FL
- Market: Miami, FL
- Buyer: Tom Castellano
- Seller: Ademar Villa
- Brokers: Carlos Fausto Miranda & Mauricio Villasuso - Fausto Commercial
- Square Footage: 20,212
- Price per Square Foot: $272
The deal was successfully facilitated by Carlos Fausto Miranda and Mauricio Villasuso from Fausto Commercial. Their expertise and negotiation skills played a key role in ensuring a smooth transaction between the buyer, Tom Castellano, and the seller, Ademar Villa.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$293,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67
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