SteelBlock LLC Acquires Multifamily Asset In Opa-locka For $8.2M, Represented By Franklin Street
SOLD
$8,200,000
+ 1
Florida
See Similar DealsMultiFamily10,892 SF
Sold
SOLD
SteelBlock LLC Acquires Multifamily Asset In Opa-locka For $8.2M, Represented By Franklin Street
14460 Northwest 22nd Avenue, Opa-locka, FL, USA
See Similar DealsMultiFamily10,892 SF
Sold
+ 1
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$752
Total Square Footage:10892 SF
Transaction Type:Sale
The multifamily property located at 14255-14460 Northwest 22nd Avenue in Opa-locka has been sold. The transaction took place on January 8, 2020. The property, known as Ingram Park Apartments, was sold by Ingram Park Apartments LLC. The buyer, SteelBlock LLC, represented by Ignacio Murman, acquired the property for a total price of $8,200,000. The asset consists of 118 units, with a price per unit of $70,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,200,000
- Address: 14255-14460 Northwest 22nd Avenue
- Market: Opa-locka
Hernando Perez, Joe Rubin, and Oscar Banegas from Franklin Street served as the brokers in this transaction. They represented both the buyer, SteelBlock LLC, and the seller, Ingram Park Apartments LLC. The involvement of these key individuals and companies highlights their role in facilitating the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$437,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,132.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,872.18
Annual Debt Service$466,466.20
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