Updated Oct 28, 2024
Naranja Lakes Housing Partners, LP Acquires Multifamily Property In Homestead For $3.3M
26000 South Dixie Highway, Homestead, Florida 33032, United States
$3,300,000
$24/SF
Building Size
134,045 SF
Asset Type
MultiFamily
Closing
May 27, 2021
About this deal
AI
The multifamily property located at 26000 S Dixie Hwy in Homestead has been sold in a recent transaction. The property consists of 140 units and was acquired by Naranja Lakes Housing Partners, LP for a total sale price of $3,300,000, resulting in an average price per unit of $23,571. The seller in this transaction was Shou Fong Rachmuth Le. The sale was facilitated by the broker Erkan Korkmaz from Related ISG Realty.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,300,000
- Address: 26000 S Dixie Hwy, Homestead
- Market: Homestead
Naranja Lakes Housing Partners, LP, the buyer, completed the acquisition of this multifamily property from Shou Fong Rachmuth Le. The transaction was facilitated by Erkan Korkmaz from Related ISG Realty, who represented the buyer. This deal marks an important milestone for all parties involved.
Players
Homestead 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
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93