Silver Cover Property Holdings Acquires 18-Unit Multifamily In Miami For $6.9M
SOLD
$6,915,000
Florida
See Similar DealsMultiFamily15,000 SF
Sold 10/27/2021
SOLD
Silver Cover Property Holdings Acquires 18-Unit Multifamily In Miami For $6.9M
2010 Southwest 25th Terrace, Miami, Florida 33133, United States
See Similar DealsMultiFamily15,000 SF
Sold 10/27/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$461
Total Square Footage:15,000 SF
Transaction Type:Sale
A multifamily property located at 2010 SW 25th Terrace in Miami has been sold in a recent transaction. The property consists of 18 units with a total square footage of 15,000. The sale price for this property was $6,915,000, resulting in a price per unit of $384,167 and a price per square foot of $461.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,915,000
- Units: 18
- Price per Unit: $384,167
- Total Square Footage: 15,000
- Price per Square Foot: $461
The buyer of this property is Silver Cover Property Holdings, while the seller is Freddy Borges. The deal was facilitated by brokers David Cohen, Arthur Porosoff, and Jonathan Karlik from Compass.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$368,800.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,567.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,780.63
Annual Debt Service$393,367.53
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