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Karen E Engel TRS Sells Multifamily Property At 230 Calabria Avenue & 2999 W Flagler St, Miami For $4.8M

Property Image
SOLD
$4,800,000

Florida

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MultiFamily27,472 SF
Sold 06/25/2020
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Property Image
SOLD

Karen E Engel TRS Sells Multifamily Property At 230 Calabria Avenue & 2999 W Flagler St, Miami For $4.8M

230 Calabria Avenue, Coral Gables, Miami-Dade, FL, USA

See Similar Deals
MultiFamily27,472 SF
Sold 06/25/2020
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$174
Total Square Footage:27,472 SF
Transaction Type:Sale

Located in Miami, the multifamily property at 230 Calabria Avenue & 2999 W Flagler Street has been sold in a closed transaction. The property spans a total of 27,472 square feet and consists of 24 units. The sale price for this asset was $4,800,000, resulting in a price per unit of $200,000. The price per square foot is calculated at $175, and the capitalization rate stands at 4%. The seller in this transaction was Karen E Engel TRS, with the deal facilitated by Francisco Rodriguez from Brown Harris Stevens.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,800,000
  • Market: Miami
  • Units: 24
  • Price per Unit: $200,000
  • Square Footage: 27,472
  • Price per Square Foot: $175
  • Capitalization Rate: 4%
  • Seller: Karen E Engel TRS
  • Broker: Francisco Rodriguez - Brown Harris Stevens

This successful transaction showcases the expertise and professionalism of Francisco Rodriguez from Brown Harris Stevens, who represented the seller in this deal.

Players

Francisco Rodriguez
APEX Capital Realty
Francisco Rodriguez
6 deals$27.4M volume
BROKER
T
TRS
SELLER

Details

SOLD
IMAGE: Francisco Rodriguez DATE: 06/25/2021 ADDRESS: 230 Calabria Avenue & 2999 W Flagler Street MARKET: Miami ASSET TYPE: Multifamily SELLER: Karen E Engel TRS BROKER: Francisco Rodriguez - Brown Harris Stevens SALE PRICE: $4,800,000 UNITS: 24 ~ PPU: $200,000 SF: 27,472 ~ PPSF: $175 CAP: 4%

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$256,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
Annual Debt Service$273,053.39