Updated Oct 28, 2024
Rental Asset Management Acquires Multifamily Property In Little Havana For $30.1M
35 Southwest 6th Avenue, Miami, Florida 33130, United States
$30,100,000
$237/SF
Building Size
126,897 SF
Asset Type
MultiFamily
Closing
Apr 25, 2022
About this deal
AI
A multifamily property located at 35 SW 6th Avenue in the Little Havana market has been sold. The transaction took place on April 26, 2022, and the property was acquired by Rental Asset Management for a total price of $30,100,000. The property consists of 100 units, with a per unit price of $301,000. The total square footage of the property is 126,897, resulting in a price per square foot of $237.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $30,100,000
- Units: 100
- Price per Unit: $301,000
- Total Square Footage: 126,897
- Price per Square Foot: $237
- Market: Little Havana
Rental Asset Management, represented by German Guzman and Axel Jordan, acted as the buyer in the transaction. On the other hand, Eastern Atlantic Land Development, represented by Eric Milne, was the seller. The successful completion of this deal highlights the expertise and professionalism of all the individuals and companies involved.
Players
Miami MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93