Mike Sagaro Acquires 57-Unit Multifamily In North Miami For $11.5M
SOLD
$11,500,000
Florida
See Similar DealsMultiFamily41,100 SF
Sold 06/29/2022
SOLD
Mike Sagaro Acquires 57-Unit Multifamily In North Miami For $11.5M
13605 Northeast 3rd Court, North Miami, Florida 33161, United States
See Similar DealsMultiFamily41,100 SF
Sold 06/29/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$279
Total Square Footage:41,100 SF
Transaction Type:Sale
Located at 13605 NE 3rd Ct in North Miami, this multifamily property was recently sold in a closed transaction. The sale took place on June 29, 2022, with a sale price of $11,500,000. The property consists of 57 units, with each unit valued at approximately $201,754. The total square footage of the property is 41,100, resulting in a price per square foot of $280.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,500,000
- Address: 13605 NE 3rd Ct
- Market: North Miami
The buyer of this property is Mike Sagaro, while the seller is Maxim Mochalov. The deal was facilitated by the brokers Ryan Wold, Dan Dratch, and Greg Matus from Franklin Street. They represented their respective parties throughout the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$613,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,857.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,515.87
Annual Debt Service$654,190.40
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