Acevedo Investments Corp Acquires Multifamily In Hialeah For $5.5M
SOLD
$5,500,000
Florida
See Similar DealsMultiFamily15,734 SF
Sold 01/01/2023
SOLD
Acevedo Investments Corp Acquires Multifamily In Hialeah For $5.5M
1140 West 29th Street
See Similar DealsMultiFamily15,734 SF
Sold 01/01/2023
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$349
Total Square Footage:15,734 SF
Transaction Type:Sale
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.
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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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