Marcus & Millichap Sells Hialeah Multifamily Property For $958.5K
SOLD
$958,500
Florida
See Similar DealsMultiFamily
Sold 03/21/2023
SOLD
Marcus & Millichap Sells Hialeah Multifamily Property For $958.5K
390 E. 16th St,Hialeah,Florida
See Similar DealsMultiFamily
Sold 03/21/2023
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 390 E. 16th St in Hialeah has been sold for a total price of $958,500. The property spans an area of 0.16 acres and consists of 6 units. The price per unit comes out to be $159,750. The sale was facilitated by Nicholas McAndrew, Evan P. Kristol, and Felipe J. Echarte of Marcus & Millichap.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $958,500
- Address: 390 E. 16th St
- Market: Hialeah
- Acres: 0.16
- Brokers: Nicholas McAndrew, Evan P. Kristol, and Felipe J. Echarte - Marcus & Millichap
- Units: 6
- Price per Unit: $159,750
The deal involved the valuable expertise and representation of Nicholas McAndrew, Evan P. Kristol, and Felipe J. Echarte from Marcus & Millichap. Their involvement ensured a successful transaction for all parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$51,120.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,405.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,543.78
Annual Debt Service$54,525.35
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