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Kwok-Cheng Wong & Silvia C Wong Acquire Miami Multifamily For $1M

Property Image
SOLD
$1,000,000

Florida

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MultiFamily2,514 SF
Sold 03/01/2023
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Property Image
SOLD

Kwok-Cheng Wong & Silvia C Wong Acquire Miami Multifamily For $1M

3114-3116 Southwest 25th Street

See Similar Deals
MultiFamily2,514 SF
Sold 03/01/2023
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$397
Total Square Footage:2,514 SF
Transaction Type:Sale

The multifamily property located at 3114-3116 Southwest 25th Street in Miami has been sold in a closed transaction. The property consists of 2 units with a total area of 2,514 square feet. The sale price for this transaction was $1,000,000, resulting in a price per unit of $500,000 and a price per square foot of $398.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,000,000
  • Units: 2
  • Price per Unit: $500,000
  • Square Footage: 2,514
  • Price per Square Foot: $398
  • Address: 3114-3116 Southwest 25th Street, Miami
  • Market: Miami

The buyers in this transaction were Kwok-Cheng Wong and Silvia C Wong. They acquired the property from the sellers, Marlene Fernandez and Annette Anillo. Justin Knops from Knops & Morgan Realty Corporation represented the sellers as their representative.

Players

Justin Knops
4 deals$9.3M volume(786) 253-5697
BROKER

Details

SOLD
IMAGE: Justin Knops DATE: 03/01/2023 ADDRESS: 3114-3116 Southwest 25th Street MARKET: Miami ASSET TYPE: Multifamily BUYER: Kwok-Cheng Wong & Silvia C Wong SELLER: Marlene Fernandez & Annette Anillo SELLER'S REP: Justin Knops (@Justinknops_sellsluxury) - Knops & Morgan Realty Corporation (@KM_RealtyCorp) SALE PRICE: $1,000,000 UNITS: 2 ~ PPU: $500,000 SF: 2,514 ~ PPSF: $398

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,552.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740.51
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