Dorian Apartments Acquires Multifamily Property In North Miami From Lisa Ramos For $4.85M
SOLD
$4,850,000
Florida
See Similar DealsMultiFamily15,578 SF
Sold 03/11/2023
SOLD
Dorian Apartments Acquires Multifamily Property In North Miami From Lisa Ramos For $4.85M
13201 Memorial Hwy
See Similar DealsMultiFamily15,578 SF
Sold 03/11/2023
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$311
Total Square Footage:15,578 SF
Transaction Type:Sale
Dorian Apartments has purchased a multifamily property located at 13201 Memorial Hwy in North Miami. The property consists of 28 units with a total square footage of 15,578. The sale price for the property was $4,850,000, resulting in a price per unit of $173,214 and a price per square foot of $311.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,850,000
- Address: 13201 Memorial Hwy, North Miami
- Market: North Miami
- Buyer: Dorian Apartments
- Seller: Lisa Ramos
- Seller's Representative: Eddie Gil & Robinson Seda Jr. - Skyrise Commercial REA
- Units: 28
- Price per Unit: $173,214
- Square Footage: 15,578
- Price per Square Foot: $311
The transaction was facilitated by Eddie Gil & Robinson Seda Jr. from Skyrise Commercial REA, who represented the seller, Lisa Ramos. Their expertise and negotiation skills played a crucial role in the successful completion of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$258,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,231.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,991.47
Annual Debt Service$275,897.69
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