SOLDMultiFamily
Chirag Patel Acquires Multifamily Property In North Miami For $5.85M
447 Northeast 125th Street, North Miami, Florida 33161, United States
$5,850,000
$273/SF
Building Size
21,424 SF
Asset Type
MultiFamily
Closing
Apr 28, 2022
AI
A multifamily property located at 447 NE 125th St in North Miami was recently sold for a price of $5,850,000. The property consists of 36 units with an average price per unit of $162,500. It spans a total area of 21,424 square feet, which sets the price per square foot at $273.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,850,000
- Address: 447 NE 125th St
- Market: North Miami
- Units: 36
- Price per Unit: $162,500
- Total Square Feet: 21,424
- Price per Square Foot: $273
The buyer of the property is Chirag Patel, and the seller is Javier Cervera. The transaction was facilitated by Felipe Echarte, Evan Kristol, and Nicholas McAndrew from Marcus & Millichap.
Players
North Miami MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.71%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93