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131 Northwest 8th Street

Michael Rauf Acquires Multifamily Property From Waneta White In Homestead For $2.7M
SOLDMultiFamily

Michael Rauf Acquires Multifamily Property From Waneta White In Homestead For $2.7M

131 Northwest 8th Street

$2,700,000

$270/SF

Building Size

9,984 SF

Asset Type

MultiFamily

Closing

Mar 19, 2025

AI

The property asset involved in the transaction is a MultiFamily type located at 131 Northwest 8th Street in the Homestead market. The sale was concluded at a price of $2,700,000.00, encompassing a total of 13 units, each featuring 2 bedrooms and 1 bathroom. The entire building has a square footage of 9,984.0.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $2,700,000.00
  • Address: 131 Northwest 8th Street
  • Market: Homestead
  • Units: 13
  • Square Footage: 9984.0
  • Buyer: Michael Rauf
  • Seller: Waneta White

MSP Group LLC was the brokerage firm that facilitated the sale of the property, which also included 151 NW 8th Street, Homestead, FL 33030. For multifamily property transactions in South Florida, inquiries can be directed to Sam Mekras at 786-417-3709 or via email at [email protected].

Players

Sam Mekras

MSP Group

Broker

$101.8M

vol

33 deals

Broker

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

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93