Mike Venero & Walter Rios Acquire Multifamily Property In Little Havana, Miami For $2.6M
SOLD
$2,600,000
Florida
See Similar DealsMultiFamily12,794 SF
Sold 10/29/2021
SOLD
Mike Venero & Walter Rios Acquire Multifamily Property In Little Havana, Miami For $2.6M
1936 SW 2nd St, Little Havana, Miami, FL, USA
See Similar DealsMultiFamily12,794 SF
Sold 10/29/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$203
Total Square Footage:12,794 SF
Transaction Type:Sale
A multifamily property located at 1936 SW 2 ST in Little Havana, Miami has been sold. The property consists of 20 units with a total square footage of 12,794. The asking price for the property was $2,800,000, and it was sold for $2,600,000, resulting in a price per unit of $130,000 and a price per square foot of $203.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,600,000
- Address: 1936 SW 2 ST, Little Havana, Miami
- Market: Little Havana, Miami
The buyers of the property are Mike Venero and Walter Rios, while the seller is Ignacio Sotolongo. The transaction was facilitated by brokers Rafael Fermoselle and David Fermoselle from ElevenTrust RE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$138,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92
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