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Marcus & Millichap Sells Miami Silver Bluff Underline Apartments For $9.925M
SOLD
$9,925,000
Florida
See Similar DealsMultiFamily25,000 SF
Sold 06/14/2024
SOLD
Marcus & Millichap Sells Miami Silver Bluff Underline Apartments For $9.925M
2285 Southwest 27th Street
See Similar DealsMultiFamily25,000 SF
Sold 06/14/2024
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$397
Total Square Footage:25,000 SF
Transaction Type:Sale
The 28-unit Silver Bluff Underline apartment building in Miami was sold for $9.925 million. This newly-built property boasts modern units with private balconies and ample parking, located near Brickell.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $9,925,000
- Units: 28
- Price Per Unit: $354,464
- Square Footage: 25,000
- Price Per Square Foot: $397
- Address: 2285 Southwest 27th Street, Miami
- Market: Miami
- Brokers: Alex Zylberglait & Michael Crocchiola - Marcus & Millichap
Alex Zylberglait and Michael Crocchiola from Marcus & Millichap were the brokers who facilitated the sale of the Silver Bluff Underline apartment building in Miami.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$529,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,261.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,049.56
Annual Debt Service$564,594.76
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