Elan Capital Acquires Multifamily Property In Miami For $4.75M
SOLD
$4,750,000
Florida
See Similar DealsMultiFamily29,222 SF
Sold 09/20/2022
SOLD
Elan Capital Acquires Multifamily Property In Miami For $4.75M
2605 Northwest 135th Street, Miami, Florida 33167, United States
See Similar DealsMultiFamily29,222 SF
Sold 09/20/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$162
Total Square Footage:29,222 SF
Transaction Type:Sale
The multifamily property located at 2605/2561 NW 135 Street in Miami has been sold. The transaction took place on 09/20/2022. The property, owned by Jalal Abuimweis and represented by The King's Estates, was purchased by Elan Capital for a total sale price of $4,750,000. The multifamily asset comprises 38 units, resulting in a price per unit of $125,000. The total square footage of the property is 29,222, with a price per square foot of $163.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,750,000
- Address: 2605/2561 NW 135 Street
- Market: Miami
- Seller: Jalal Abuimweis - The King's Estates
- Buyer: Elan Capital
- Units: 38
- Price per Unit: $125,000
- Square Footage: 29,222
- Price per Square Foot: $163
Jalal Abuimweis, represented by The King's Estates, sold the multifamily property to Elan Capital. This transaction highlights the involvement of key individuals and companies in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$253,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,875.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,517.42
Annual Debt Service$270,209.08
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