7 Crowns Acquires 24-Unit North Miami Beach Multifamily For $4.15M
SOLD
$4,150,000
Florida
See Similar DealsMultiFamily18,493 SF
Sold 08/29/2023
SOLD
7 Crowns Acquires 24-Unit North Miami Beach Multifamily For $4.15M
1949 NE 172nd St North Miami Beach, FL 33162, USA
See Similar DealsMultiFamily18,493 SF
Sold 08/29/2023
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$224
Total Square Footage:18,493 SF
Transaction Type:Sale
The multi-family property located at 1949 Northeast 172 Street in North Miami Beach has been sold. The property consists of 24 units with a total area of 18,493 square feet. The sale price for the property was $4,150,000, resulting in a per unit price of $172,917. The price per square foot was $224.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $4,150,000
- Address: 1949 Northeast 172 Street
- Market: North Miami Beach
The buyer for this transaction is 7 Crowns, while the seller is Jorge Sanchez. The brokers involved in the deal were Felipe Echarte and Nicholas McAndrew from Marcus & Millichap.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$221,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,744.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,673.12
Annual Debt Service$236,077.41
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