Brian Kim & John Prete Acquire Multifamily Property In Homestead, FL For $46.4M
SOLD
Florida
See Similar DealsMultiFamily20,821 SF
Sold 01/13/2022
SOLD
Brian Kim & John Prete Acquire Multifamily Property In Homestead, FL For $46.4M
1400 East Mowry Drive, Homestead, Florida 33033, United States
See Similar DealsMultiFamily20,821 SF
Sold 01/13/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$2,228
Total Square Footage:20,821 SF
Transaction Type:Sale
A multifamily property located at 1400 E Mowry Dr in Homestead, FL, has been sold in a closed transaction. The property spans 20,821 square feet and was sold for a price of $46,396,421, resulting in a price per square foot of $2,228.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $46,396,421
- Square Feet: 20,821
- Price Per Square Foot: $2,228
- Address: 1400 E Mowry Dr, Homestead, FL
- Market: Homestead, FL
The buyer in this transaction is Brian Kim & John Prete, while the seller is Jorge Lopez.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,474,475.79
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$164,836.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$219,942.71
Annual Debt Service$2,639,312.47
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