Kristopher C Rodriguez & Danny Kattan Acquire Multifamily Property In Upper Eastside Miami For $1.75M
427 NE 62nd St, Miami, FL, USA
$1,750,000
$414/SF
Building Size
4,218 SF
Asset Type
MultiFamily
Closing
Jun 27, 2021
AI
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.
Players
Miami 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
9.06%
Cash-on-Cash
-2.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93