Updated Oct 28, 2024
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
$4,800,000
$174/SF
Building Size
27,472 SF
Asset Type
MultiFamily
Closing
Jun 25, 2020
About this deal
AI
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.
On the Map
$4,800,000
$174/SF
MultiFamily
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Players
Coral Gables MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93