Updated Oct 29, 2024
Acevedo Investments Corp Acquires Multifamily In Hialeah For $5.5M
1140 West 29th Street
$5,500,000
$349/SF
Building Size
15,734 SF
Asset Type
MultiFamily
Closing
Jan 1, 2023
About this deal
AI
A multifamily property located at 1140 West 29th Street in Hialeah has been sold in a recent transaction. The property consists of 29 units with a total square footage of 15,734. The sale price for this transaction was $5,500,000, resulting in a price per unit of $189,655 and a price per square foot of $350.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,500,000
- Address: 1140 West 29th Street
- Market: Hialeah
The buyer for this transaction is Acevedo Investments Corp, represented by Jorge Acevedo. The seller is DMP Rental Partnership, represented by Ivan Del Rio. The deal was facilitated by brokers Daniel Garcia and Hernando Perez from Horvath & Tremblay.
Despite its simplicity, this transaction represents a significant step in the real estate market. Both the buyer and seller were able to reach an agreement on the sale of the multifamily property, showcasing the expertise and negotiation skills of the involved parties.
On the Map
$5,500,000
$349/SF
MultiFamily
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Players
Hialeah MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93