Francisco Lagos Marmol Purchases MultiFamily Property On Meridian Avenue Miami Beach For $3,200,000
1450 Meridian Ave
$3,200,000
$404/SF
Building Size
7,918 SF
Asset Type
MultiFamily
Closing
Dec 16, 2015
AI
The property asset involved in this transaction is a multifamily building located at 1450 Meridian Ave in the Miami Beach market. The sale was completed on December 16, 2015, with a transaction amount of $3,200,000. The asset encompasses a total square footage of 7,918.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $3,200,000.00
- Address: 1450 Meridian Ave
- Market: Miami Beach
- Square Footage: 7,918
- Buyer: Francisco Lagos Marmol
- Seller: Timothy Kingcade
- Broker: Arthur Porosoff
This transaction involved key participants, including the buyer, Francisco Lagos Marmol, and the seller, Timothy Kingcade. The broker representing this transaction was Arthur Porosoff, facilitating the deal between the parties involved.
Players
Miami 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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93