Serge Vallet Acquires Multifamily Property In Miami Beach For $975,000
SOLD
$975,000
Florida
See Similar DealsMultiFamily3,000 SF
Sold 05/16/2022
SOLD
Serge Vallet Acquires Multifamily Property In Miami Beach For $975,000
1800 Normandy Drive, Miami Beach, Florida 33141, United States
See Similar DealsMultiFamily3,000 SF
Sold 05/16/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$325
Total Square Footage:3,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$52,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,463.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,622.00
Annual Debt Service$55,463.97
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