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Jacob Ohayon Acquires Multifamily Property In Little Havana For $5.5M

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SOLD
$5,550,000

Florida

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MultiFamily24,986 SF
Sold 01/12/2024
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Property Image
SOLD

Jacob Ohayon Acquires Multifamily Property In Little Havana For $5.5M

326 Southwest 13th Avenue

See Similar Deals
MultiFamily24,986 SF
Sold 01/12/2024
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$222
Total Square Footage:24,986 SF
Transaction Type:Sale

The multifamily property located at 326 Southwest 13th Avenue in Little Havana, Miami has been sold for a price of $5,550,000. The property consists of 40 units, with an average price per unit of $138,750. The total square footage of the property is 24,986, with a price per square foot of $222.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $5,550,000
  • Units: 40
  • Price per Unit: $138,750
  • Square Footage: 24,986
  • Price per Square Foot: $222
  • Market: Little Havana - Miami

The buyer of the property is Jacob Ohayon. The sale was facilitated by Luis Riascos from Lifestyle International Realty, acting as the broker for Jacob Ohayon in this transaction. Luis Riascos represented the buyer throughout the deal.

The broker, Luis Riascos, has mentioned that this asset in Little Havana will undergo a full renovation. Jacob Ohayon is actively looking to expand his portfolio and is interested in off-market opportunities in the area. The finished product of the repositioned building will be available soon.

Players

Luis Riascos
2 deals$7.7M volume
BROKER

Jacob Ohayon
15 deals$82.4M volume
BUYER

Details

SOLD
IMAGE: Jacob Ohayon & Luis Riascos DATE: 01/12/2024 ADDRESS: 326 Southwest 13th Avenue MARKET: Little Havana - Miami ASSET TYPE: Multifamily BUYER: Jacob Ohayon (@@Jakethestar) BROKER: Luis Riascos (@LRiascos_14) - Lifestyle International Realty (@LifestyleInternationalRealty) SALE PRICE: $5,550,000 UNITS: 40 ~ PPU: $138,750 SF: 24,986 ~ PPSF: $222 NOTE FROM BROKER: We are excited to fully reposition this asset in the vibrant market of Little Havana. If you have off-market opportunities in this area please reach out to us as Mr. Ohayon is actively looking to expand his portfolio. This building will be getting a full renovation from top to bottom. Be on the lookout for the finished product coming soon 😎

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

$295,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,717.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,309.83
Annual Debt Service$315,717.98