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Fabiola Albuquerque Of Hialeah7Town LLC Acquires Multifamily Property In Hialeah For $2.3M

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SOLD
$2,300,000

Florida

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MultiFamily5,754 SF
Sold 11/26/2024
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SOLD

Fabiola Albuquerque Of Hialeah7Town LLC Acquires Multifamily Property In Hialeah For $2.3M

324 West 74th Place

See Similar Deals
MultiFamily5,754 SF
Sold 11/26/2024
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$399
Total Square Footage:5,754 SF
Transaction Type:Sale

The property involved in the transaction is a multifamily asset located at 324 West 74th Place in Hialeah. It has a sale price of $2,300,000 and consists of 7 units within a total square footage of 5,754. The property spans an area of 0.27 acres and was built in 1988.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,300,000
  • Units: 7
  • Price Per Unit: $328,571
  • Square Footage: 5,754
  • Price Per Square Foot: $400
  • Buyer: Fabiola Albuquerque - Hialeah7Town, LLC
  • Seller: Prestige Companies
  • Broker: Billy Planes - Re/Max 360

Notably, Hialeah7Town, LLC is the buyer of the property and was represented in this transaction by Fabiola Albuquerque. Prestige Companies, the seller, engaged the services of broker Billy Planes from Re/Max 360 to facilitate the deal.

Players

Billy Planes
Re/Max
Billy Planes
3 deals$9.7M volume
BROKER

Details

SOLD
IMAGE: Billy Planes DATE: 11/26/2024 ADDRESS: 324 West 74th Place MARKET: Hialeah ASSET TYPE: Multifamily ~ ACRES: 0.27 BUYER: Fabiola Albuquerque - Hialeah7Town, LLC SELLER: Prestige Companies BROKER: Billy Planes (@CoralGablesCommercial) - Re/Max 360 (@Remax360Miami) SALE PRICE: $2,300,000 UNITS: 7 ~ PPU: $328,571 SF: 5,754 ~ PPSF: $400 NOTE: Hialeah7Town, LLC acquired a 7-unit, 5,754-square-foot multifamily property at 324 W 74th Pl in Hialeah for $2.3 million from Prestige Companies. Billy Planes of RE/MAX 360 brokered the deal for the 1988-built property, which spans 0.27 acres.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$122,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08