Victory Investments Group Acquires Miami Beach Multifamily For $7M
1770 Meridian Avenue, Miami Beach, Florida 33139, United States
$7,000,000
$301/SF
Building Size
23,234 SF
Asset Type
MultiFamily
Closing
May 25, 2022
AI
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.
Players
Miami Beach 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93