Jalal Abuimweis Acquires Multifamily Property In Miami For $3.7M
SOLD
$3,700,000
Florida
See Similar DealsMultiFamily29,222 SF
Sold 07/12/2020
SOLD
Jalal Abuimweis Acquires Multifamily Property In Miami For $3.7M
2605 NW 135th St, Miami, FL, USA
See Similar DealsMultiFamily29,222 SF
Sold 07/12/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$126
Total Square Footage:29,222 SF
Transaction Type:Sale
The multifamily property located at 2605/2561 NW 135 St in Miami was recently sold for a sale price of $3,700,000. The property consists of 38 units, with an average price per unit of $97,368. The total square footage of the property is 29,222, resulting in a price per square foot of $127. The sale took place on July 12, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,700,000
- Address: 2605/2561 NW 135 St, Miami
- Market: Miami
- Buyer: Jalal Abuimweis
- Seller: Raul Fernandez
- Units: 38
- Price per Unit: $97,368
- Square Footage: 29,222
- Price per Square Foot: $127
- Date: July 12, 2021
Jalal Abuimweis represented himself as the buyer in this transaction, while Raul Fernandez acted as the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$197,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,145.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,539.89
Annual Debt Service$210,478.65
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