Updated Dec 21, 2023
MG Developer Acquires Hialeah Multifamily For $1.6M
2691 East 11th Avenue, Hialeah, Florida 33013, United States
$1,600,000
Units
55
Asset Type
MultiFamily
Closing
Oct 27, 2022
About this deal
AI
MG Developer, represented by Diego Torrealba and Johnny Dao of FCE, has acquired a multifamily property located at 2691 E 11th Ave in Hialeah. The sale took place on October 28, 2022, with Agustin Gonzales as the seller. The transaction was closed for a price of $1,600,000. The property consists of 55 units, resulting in a per unit price of $29,091.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,600,000
- Address: 2691 E 11th Ave
- Market: Hialeah
- Buyer: MG Developer - Diego Torrealba, Johnny Dao - FCE
- Seller: Agustin Gonzales
- Units: 55
- Price Per Unit: $29,091
Diego Torrealba and Johnny Dao, representing FCE, facilitated the transaction on behalf of MG Developer. This acquisition marks another successful venture for the buyer in the real estate market.
Players
Hialeah 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
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93