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1745 Northwest 1st Place

Michael Abadi Acquires Multifamily Property In Wynwood, Miami For $1.28M
SOLDMultiFamily

Michael Abadi Acquires Multifamily Property In Wynwood, Miami For $1.28M

1745 Northwest 1st Place

$1,280,000

$201/SF

Building Size

6,360 SF

Asset Type

MultiFamily

Closing

May 16, 2022

AI

The multifamily property located at 1745 NW 1st Pl in Wynwood, Miami has been sold in a transaction closed on 05/16/2022. The property consists of 10 units with a total square footage of 6,360. The sale price for this property was $1,280,000, resulting in a price per unit of $128,000 and a price per square foot of $201.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,280,000
  • Units: 10
  • Price per Unit: $128,000
  • Square Footage: 6,360
  • Price per Square Foot: $201
  • Address: 1745 NW 1st Pl, Wynwood, Miami

The buyer of this property is Micheal Abadi and the seller is Mauro N Viera Galain. The deal was handled by Bryan Ozuna and Karen Gomez of Real Estate Sales Force (RESF) who represented the respective parties in the transaction.

Players

Karen Gomez

Real Estate Sales Force (RESF)

Broker

$11.4M

vol

6 deals

Broker

Mauro N Viera Galain

Seller

$2.6M

vol

2 deals

Seller

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

12.39%

Cash-on-Cash

-3.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93