Updated Oct 28, 2024
Acquires 20-Unit Multifamily In Overtown, Miami For $3.5M
1710 Northwest 1st Court
$3,500,000
$424/SF
Building Size
8,249 SF
Asset Type
MultiFamily
Closing
Jul 15, 2022
About this deal
AI
The multifamily property located at 1710 NW 1st Ct in Overtown, Miami has been sold for a total price of $3,500,000. The property consists of 20 units, with a price per unit (PPU) of $175,000. The total square footage of the property is 8,249, resulting in a price per square foot (PPSF) of $424.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $3,500,000
- Units: 20
- Price per Unit (PPU): $175,000
- Square Footage: 8,249
- Price per Square Foot (PPSF): $424
- Address: 1710 NW 1st Ct
- Market: Overtown, Miami
The buyer of the property is , represented by . The seller in this transaction is Peter Politis. The deal was facilitated by brokers Alec Demetriou, Joseph Thomas, and Adam Duncan, who are affiliated with Marcus & Millichap.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93