Drew Levey & Norman Ginsparg Acquire Multifamily Property In Miami,FL For $5.02M
SOLD
$5,022,500
Florida
See Similar DealsMultiFamily14,117 SF
Sold 10/05/2022
SOLD
Drew Levey & Norman Ginsparg Acquire Multifamily Property In Miami,FL For $5.02M
402 Northwest 12th Avenue, Miami, Florida 33128, United States
See Similar DealsMultiFamily14,117 SF
Sold 10/05/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$355
Total Square Footage:14,117 SF
Transaction Type:Sale
The multifamily property located at 402 NW 12th Ave in Miami, FL was recently sold. The property spans 14,117 square feet with a price per square foot of $355. The transaction took place on October 5, 2022, and the total sale price amounted to $5,022,500.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,022,500
- Address: 402 NW 12th Ave, Miami, FL
- Market: Miami, FL
- Square Footage: 14,117 SF
- Price per Square Foot: $355
The buyers of the property were Drew Levey & Norman Ginsparg, while the sellers were Michael Frohlinger & Steven Frohlinger.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$267,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,843.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,809.21
Annual Debt Service$285,710.55
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