F Advance Capital Acquires Multifamily Property In North Miami Beach For $6.75M
SOLD
$6,750,000
Florida
See Similar DealsMultiFamily24,400 SF
Sold 10/16/2023
SOLD
F Advance Capital Acquires Multifamily Property In North Miami Beach For $6.75M
3626 Northeast 168th Street
See Similar DealsMultiFamily24,400 SF
Sold 10/16/2023
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$276
Total Square Footage:24,400 SF
Transaction Type:Sale
The multifamily property located at 3626 Northeast 168th Street in North Miami Beach has been sold. The transaction took place on October 16, 2023, with a sale price of $6,750,000. The property consists of 30 units with an average price per unit of $225,000. The total square footage of the property is 24,400, resulting in a price per square foot of $277.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,750,000
- Units: 30
- Price per Unit: $225,000
- Square Footage: 24,400
- Price per Square Foot: $277
- Address: 3626 Northeast 168th Street, North Miami Beach
F Advance Capital, represented by Demian Perelmuter, served as the buyer in the transaction. The seller was Catalonia Management.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$360,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,981.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,998.44
Annual Debt Service$383,981.32
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