Michael Sirven Acquires Multifamily Property From Marc Hargraves In Homestead For $880,000
1303 Northwest 12th Street
$880,000
$262/SF
Building Size
3,348 SF
Asset Type
MultiFamily
Closing
Oct 30, 2024
AI
The property involved in this transaction is a multifamily asset located at 1303 Northwest 12th Street in Homestead. The sale price for this asset was $880,000, consisting of 4 units, making the price per unit $220,000. The total square footage of the property is 3,348, which translates to a price per square foot of $262.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $880,000
- Units: 4
- Price Per Unit: $220,000
- Square Footage: 3,348
- Price Per Square Foot: $262
- Buyer: Michael Sirven
- Seller: Marc Hargraves
- Broker: Sam Mekras - MSP Group
This transaction highlights the involvement of Michael Sirven as the buyer and Marc Hargraves as the seller. The brokering was handled by Sam Mekras of MSP Group, who facilitated the sale of both 1303 and 1315 NW 12th Street in Homestead, resulting in a total of 4 adjacent units transacted.
Players
Homestead 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
18.03%
Cash-on-Cash
-5.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93