Victory Investments Group Acquires Miami Beach Multifamily For $7M
SOLD
$7,000,000
Florida
See Similar DealsMultiFamily23,234 SF
Sold 05/26/2022
SOLD
Victory Investments Group Acquires Miami Beach Multifamily For $7M
1770 Meridian Avenue, Miami Beach, Florida 33139, United States
See Similar DealsMultiFamily23,234 SF
Sold 05/26/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$301
Total Square Footage:23,234 SF
Transaction Type:Sale
The multifamily property located at 1770 Meridian Avenue in Miami Beach has been sold in a recent transaction. The sale was completed on 05/26/2022.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $7,000,000
- Number of Units: 31
- Price per Unit: $225,806
- Buyer: Victory Investments Group - Anil Monga
- Seller: Deco Beach Realty Corp
The buyer, Victory Investments Group - Anil Monga, acquired the property from the seller, Deco Beach Realty Corp. The property consists of 31 units, resulting in a price per unit of $225,806. The sale price for the transaction was $7,000,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85
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