Marcus & Millichap Brokers Facilitate $6.7M Sale Of Multifamily Property In Hialeah
SOLD
$6,754,000
Florida
See Similar DealsMultiFamily24,492 SF
Sold 06/24/2022
SOLD
Marcus & Millichap Brokers Facilitate $6.7M Sale Of Multifamily Property In Hialeah
1300 West 29th Street, Hialeah, Florida 33012, United States
See Similar DealsMultiFamily24,492 SF
Sold 06/24/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$275
Total Square Footage:24,492 SF
Transaction Type:Sale
The multifamily property located at 1300 W 29th St in Hialeah has been sold in a recent transaction. The sale was facilitated by brokers Joseph Thomas, Adam Duncan, and Marisol Hernandez of Marcus & Millichap.
Summary of transaction details
- Property Type: Multifamily
- Date: 06/24/2022
- Address: 1300 W 29th St
- Market: Hialeah
- Buyer: Jose Daccarett
- Seller: David Lichter
- Brokers: Joseph Thomas , Adam Duncan & Marisol Hernandez - Marcus & Millichap
- Sale Price: $6,754,000
- Units: 44
- Price per Unit: $153,500
- Square Footage: 24,492
- Price per square foot: $276
The transaction involved buyers Jose Daccarett and seller David Lichter. The deal was represented by brokers Joseph Thomas, Adam Duncan, and Marisol Hernandez from Marcus & Millicap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$360,213.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,995.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,017.41
Annual Debt Service$384,208.87
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