Jose Ricardo Sigala Acquires Multifamily Property In Little Haiti, Miami For $1.42M
SOLD
$1,425,000
Florida
See Similar DealsMultiFamily4,296 SF
Sold 10/25/2021
SOLD
Jose Ricardo Sigala Acquires Multifamily Property In Little Haiti, Miami For $1.42M
165 NE 56th St, Little Haiti, Miami, FL, USA
See Similar DealsMultiFamily4,296 SF
Sold 10/25/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$331
Total Square Footage:4,296 SF
Transaction Type:Sale
A multifamily property located at 159-165 NE 56 St in Little Haiti, Miami has recently been sold. The transaction took place on October 25, 2021, and the property was sold for a price of $1,425,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,425,000
- Address: 159-165 NE 56 St, Little Haiti, Miami
The property consists of 8 units, with a price per unit (PPU) of $178,125. It spans a total area of 4,296 square feet, equating to a price per square foot (PPSF) of $332. The sale of this multifamily asset was facilitated by brokers Rafael Fermoselle and Sharif Bula from Eleventrust RE.
The buyer of the property is Jose Ricardo Sigala, while the seller is Isaac Peckel. Rafael Fermoselle and Sharif Bula represented both parties in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$76,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,062.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,755.23
Annual Debt Service$81,062.72
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