Kristopher C Rodriguez & Danny Kattan Acquire Multifamily Property In Upper Eastside Miami For $1.75M
SOLD
$1,750,000
Florida
See Similar DealsMultiFamily4,218 SF
Sold 06/28/2021
SOLD
Kristopher C Rodriguez & Danny Kattan Acquire Multifamily Property In Upper Eastside Miami For $1.75M
427 NE 62nd St, Miami, FL, USA
See Similar DealsMultiFamily4,218 SF
Sold 06/28/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$414
Total Square Footage:4,218 SF
Transaction Type:Sale
The 15-unit multifamily property located at 427 NE 62 St. in Upper Eastside Miami (MiMo) has been sold for $1,750,000. The buyers, Kristopher C Rodriguez and Danny Kattan, acquired the property from the seller, Joel Rodriguez. The sale took place on June 28, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,750,000
- Units: 15
- Price per Unit (PPU): $116,666
- Market: Upper Eastside Miami (MiMo)
- Buyer: Kristopher C Rodriguez & Danny Kattan
- Seller: Joel Rodriguez
The 15-unit multifamily property features a hotel license and is located steps away from the approved $1.36B Magic City Innovation District. This sale represents a significant acquisition in the Upper Eastside Miami (MiMo) market for Kristopher C Rodriguez and Danny Kattan.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$93,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,217.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,295.89
Annual Debt Service$99,550.71
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