G Realty Group Acquires Multifamily Property On 301 86th St In Miami Beach
SOLD
$6,260,000
Florida
See Similar DealsMultiFamily17,128 SF
Sold 04/22/2022
SOLD
G Realty Group Acquires Multifamily Property On 301 86th St In Miami Beach
301 86th Street, Miami Beach, Florida 33141, United States
See Similar DealsMultiFamily17,128 SF
Sold 04/22/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$365
Total Square Footage:17,128 SF
Transaction Type:Sale
The multifamily property located at 301 86th St in Miami Beach has been sold in a closed transaction. The sale took place on 04/22/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,260,000
- Address: 301 86th St, Miami Beach
- Market: Miami Beach
Gil Brendel from G Realty Group represented the buyer in this deal, while Santiago Rodriguez from Douglas Elliman represented the seller.
The property was listed for an asking price of $6,500,000 and was eventually sold for $6,260,000. It consists of 21 units, with each unit valued at approximately $298,095. The total square footage of the property is 17,128, resulting in an average price per square foot of $365.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$333,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,240.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,675.59
Annual Debt Service$356,107.12
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