Alberto Fernandez Acquires Multifamily Asset From Izhak Wanounou In Miami For $3.5M
SOLD
$3,500,000
Florida
See Similar DealsMultiFamily9,918 SF
Sold 04/02/2025
SOLD
Alberto Fernandez Acquires Multifamily Asset From Izhak Wanounou In Miami For $3.5M
220 Southwest 18th Avenue
See Similar DealsMultiFamily9,918 SF
Sold 04/02/2025
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$352
Total Square Footage:9,918 SF
Transaction Type:Sale
The property asset involved in this transaction is a multifamily unit located at 220 Southwest 18th Avenue, Miami. It comprises a total of 21 units and spans 9,918 square feet. The transaction was completed at a sale price of $3,500,000, which equates to a price per unit of $166,666 and a price per square foot of $352.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,500,000
- Units: 21
- Square Footage: 9,918
- Price Per Unit: $166,666
- Price Per Square Foot: $352
- Buyer: Alberto Fernandez
- Seller: Izhak Wanounou
- Brokers: Rafael Fermoselle & David Fermoselle - ElevenTrust Real Estate Services
Alberto Fernandez is the buyer planning to renovate units and adjust rents to market levels. Izhak Wanounou, the seller, executed the sale to pursue a 1031 exchange for a newer property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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