Updated Sep 9, 2024
Serge Ibaka Acquires Multifamily Property In Coral Way, Miami For $5.75M
1895 Southwest 22nd Street
$5,750,000
$352/SF
Building Size
16,314 SF
Asset Type
MultiFamily
Closing
Aug 19, 2022
About this deal
AI
The multifamily property located at 1895 SW 22nd St in Coral Way, Miami has been sold in a recent transaction. The property consists of 20 units with a total square footage of 16,314. The sale price for this asset was $5,750,000, resulting in a price per unit of $287,500 and a price per square foot of $352.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,750,000
- Units: 20
- Price per Unit: $287,500
- Square Footage: 16,314
- Price per Square Foot: $352
Serge Ibaka has purchased the property from Arthur Porosoff. The transaction was facilitated by brokers Arthur D. Porosoff, David M. Cohen, Javier A Ubeda, and Randy Lack-Marquina, who represent The Porosoff Group at Compass.
Players
Shenandoah 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
2.76%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93