Brian Kim & John Prete Acquire Multifamily Property In Homestead, FL For $30.9M
SOLD
Florida
See Similar DealsMultiFamily23,184 SF
Sold 01/12/2022
SOLD
Brian Kim & John Prete Acquire Multifamily Property In Homestead, FL For $30.9M
25370 Southwest 137th Avenue, Homestead, Florida 33177, United States
See Similar DealsMultiFamily23,184 SF
Sold 01/12/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$1,333
Total Square Footage:23,184 SF
Transaction Type:Sale
The multifamily property located at 25370 Sw 137th Ave in Homestead, FL has been sold in a transaction dated January 12, 2022. The property spans a total of 23,184 square feet and was sold for a total price of $30,903,264. This translates to a price per square foot of $1,332.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $30,903,264
- Address: 25370 Sw 137th Ave, Homestead, FL
- Market: Homestead, FL
The buyers in this transaction were Brian Kim and John Prete, while the seller was Jorge Lopez.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,648,174.09
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$109,792.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$146,497.24
Annual Debt Service$1,757,966.85
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