Serge Vallet Acquires Multifamily Property In Miami Beach For $975,000
1800 Normandy Drive, Miami Beach, Florida 33141, United States
$975,000
$325/SF
Building Size
3,000 SF
Asset Type
MultiFamily
Closing
May 15, 2022
AI
A multifamily property located at 1800 Normandy Dr in Miami Beach has been sold. The property consists of 4 units with a total area of 3,000 square feet. The sale price for this transaction was $975,000, resulting in a price per unit of $243,750 and a price per square foot of $325.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $975,000
- Units: 4
- Price per Unit: $243,750
- Square Footage: 3,000
- Price per Square Foot: $325
- Market: Miami Beach
The buyer of the property is Serge Vallet, and the seller is Dennis Arechavala. Leor Fidler from Silmar Real Estate Advisors represented the buyer in this transaction.
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
16.27%
Cash-on-Cash
-4.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93