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1511 Northeast 8th Street

Lisa Ramos Acquires Homestead Multifamily For $5.55M
SOLDMultiFamily

Lisa Ramos Acquires Homestead Multifamily For $5.55M

1511 Northeast 8th Street

$5,555,000

$216/SF

Building Size

25,618 SF

Asset Type

MultiFamily

Closing

Jul 26, 2024

AI

The multifamily property located at 1511 Northeast 8th Street in Homestead was recently sold for $5,555,000. This property encompasses 39 units, with a cost per unit of $142,436. The total square footage of the property is 25,618, translating to a price per square foot of $217.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,555,000
  • Units: 39
  • Price Per Unit: $142,436
  • Square Footage: 25,618
  • Price Per Square Foot: $217
  • Address: 1511 Northeast 8th Street
  • Market: Homestead

The sale was facilitated by Deme Mekras and Sam Mekras from MSP Group. This transaction marks MSP Group LLC's 15th fractured condo deal in South Florida. For more information on South Florida multifamily properties, interested parties can contact Deme Mekras at 786-208-2684 or [email protected], as well as Sam Mekras at 786-417-3709 or [email protected].

Players

Deme Mekras

MSP Group

Broker

$270.5M

vol

32 deals

Broker

Homestead 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

2.86%

Cash-on-Cash

-0.82%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93