Legacy Residential Acquires Multifamily Asset In Miami For $17.42M
1227 Southwest 3rd Avenue, Miami, FL 33130, USA
$17,420,000
$126/SF
Building Size
137,375 SF
Asset Type
MultiFamily
Closing
Nov 30, 2021
AI
A multifamily property located at 1227 SW Third Ave in Miami has been sold. The property, consisting of 90 units, spans a total area of 137,375 square feet. The sale price for this transaction was $17,420,000, resulting in a price per unit of $193,556. The price per square foot was calculated to be $127.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,420,000
- Market: Miami
- Address: 1227 SW Third Ave
The buyer in this transaction was Legacy Residential, represented by Tomas Cabrerizo and Carlos Martinez. The seller, on the other hand, was Ases Realty, represented by Paul Garcia.
Players
Miami 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
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93