The Estate Companies Acquires Hialeah Multifamily For $15.25M
SOLD
$15,250,000
Florida
See Similar DealsMultiFamily217,800 SF
Sold 08/10/2020
SOLD
The Estate Companies Acquires Hialeah Multifamily For $15.25M
1950 W 49th St, Hialeah, FL 33012, USA
See Similar DealsMultiFamily217,800 SF
Sold 08/10/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$70
Total Square Footage:217,800 SF
Transaction Type:Sale
The multifamily property located at 1950 West 49th Street in Hialeah has been sold for a price of $15,250,000. The property spans a total of 217,800 square feet, with a price per square foot of $70. The transaction involved a total of 258 keys, resulting in a price per key of $59,108.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $15,250,000
- Square Footage: 217,800
- Price per Square Foot: $70
- Address: 1950 West 49th Street
- Market: Hialeah
- Buyer: The Estate Companies – Jeffrey Ardizon
- Keys: 258
- Price per Key: $59,108
The Estate Companies, represented by Jeffrey Ardizon, acted as the buyer in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$813,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$54,180.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$72,292.78
Annual Debt Service$867,513.36
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