Humberto Chavez Purchases Multifamily Property In Miami From Roberto Blanco For $1.98M
1607 Northwest 16th Avenue
$1,980,000
$324/SF
Building Size
6,112 SF
Asset Type
MultiFamily
Closing
Dec 29, 2025
AI
The asset involved in this transaction is a multifamily property located at 1607 Northwest 16th Avenue in Miami. It has a total area of 6,112 square feet and was sold for a price of $1,980,000, translating to a price per square foot of $323.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,980,000
- Address: 1607 Northwest 16th Avenue
- Market: Miami
- Square Footage: 6,112
- Price Per Square Foot: $323
- Buyer: Humberto Chavez
- Seller: Roberto Blanco
- Broker: George Jimenez - J&Co. Commercial Real Estate
The transaction was facilitated by George Jimenez, who represents J&Co. Commercial Real Estate. Humberto Chavez completed the purchase from seller Roberto Blanco as part of this transaction.
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
8.01%
Cash-on-Cash
-2.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93