One Real Estate Partners Acquires Miami Gardens Multifamily For $8.6M
SOLD
$8,600,000
+ 2
Florida
See Similar DealsMultiFamily5,000 SF
Sold 01/19/2021
SOLD
One Real Estate Partners Acquires Miami Gardens Multifamily For $8.6M
2754 Northwest 191st Terrace, Miami Gardens, FL, USA
See Similar DealsMultiFamily5,000 SF
Sold 01/19/2021
+ 2
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$1,720
Total Square Footage:5,000 SF
Transaction Type:Sale
A multifamily property located at 2754-2790 Northwest 191st Terrace in Miami Gardens has been sold for $8,600,000. The property consists of 30 units with a price per unit of $286,667. The transaction took place on January 19, 2021. The buyers, One Real Estate Partners represented by Abraham Cherem and Alexis Elias, acquired the property from the sellers, Carlos and Oscar Rodriguez. The deal was facilitated by brokers Carlos M. Cain and Ryan Nee from Marcus & Millichap.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,600,000
- Address: 2754-2790 Northwest 191st Terrace, Miami Gardens
- Units: 30
- Price per Unit: $286,667
Abraham Cherem and Alexis Elias of One Real Estate Partners were the buyers in this transaction. They represented the buyer's interests throughout the deal. On the other side, Carlos and Oscar Rodriguez were the sellers. Carlos M. Cain and Ryan Nee from Marcus & Millichap played a crucial role as brokers, facilitating the successful sale of the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$458,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,553.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,768.39
Annual Debt Service$489,220.65
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