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
Miami MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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