Updated Oct 28, 2024
Cherry Village L P Acquires Multifamily Property In Homestead For $16M
411 NE 12th Ave, Homestead, FL, USA
$16,000,000
$514/SF
Building Size
31,074 SF
Asset Type
MultiFamily
Closing
Aug 24, 2021
About this deal
AI
The property involved in this closed sale transaction is a multifamily asset located at 411 NE 12th Ave in the Homestead market. The property spans a total of 31,074 square feet. The sale price for this transaction was $16,000,000, resulting in a price per square foot of $515.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,000,000
- Address: 411 NE 12th Ave
- Market: Homestead
The buyer in this transaction was Cherry Village L P, while the seller was Third Century Development Corporation.
Players
Homestead 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93