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1936 SW 2nd St, Little Hava...

Mike Venero & Walter Rios Acquire Multifamily Property In Little Havana, Miami For $2.6M
SOLDMultiFamily

Mike Venero & Walter Rios Acquire Multifamily Property In Little Havana, Miami For $2.6M

1936 SW 2nd St, Little Havana, Miami, FL, USA

$2,600,000

$203/SF

Building Size

12,794 SF

Asset Type

MultiFamily

Closing

Oct 29, 2021

AI

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.

Players

Rafael Fermoselle

ElevenTrust Real Estate Services

Broker

$109.6M

vol

22 deals

Broker

Miami 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

6.10%

Cash-on-Cash

-1.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93