Updated Dec 21, 2023
Mayank Shah Acquires Multifamily Property In Miami, FL For $2.5M
1648 Southwest 7th Street, Miami, Florida 33135, United States
$2,500,000
$716/SF
Building Size
3,490 SF
Asset Type
MultiFamily
Closing
Mar 30, 2022
About this deal
AI
The multifamily property located at 1648 SW 7th St in Miami, FL was recently sold in a closed transaction on March 31, 2022. The property spans a total of 3,490 square feet and was purchased for a price of $2,500,000, resulting in a price per square foot of $716.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Square Footage: 3,490
- Price per Square Foot: $716
- Address: 1648 SW 7th St, Miami, FL
- Buyer: Mayank Shah
- Seller: Eyal Halali
Mayank Shah was the buyer of the property, while Eyal Halali was the seller. This transaction represents a noteworthy deal in the multifamily market of Miami, FL.
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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93