Wilkin Hernandez Acquires Multifamily Property In Miami For $1.92M
45 Florida Boulevard & 1302 Northeast 1st Avenue
$1,920,000
$141/SF
Building Size
13,592 SF
Asset Type
MultiFamily
Closing
Dec 14, 2023
AI
A multifamily property located at 45 Florida Boulevard & 1302 Northeast 1st Avenue in Miami has been sold for a price of $1,920,000. The property consists of 8 units, with each unit priced at approximately $240,000. The total square footage of the property is 6,796, resulting in a price per square foot of $283.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,920,000
- Units: 8
- Price per Unit: $240,000
- Total Square Footage: 6,796
- Price per Square Foot: $283
Wilkin Hernandez has purchased the property from Halpern Angela. The deal was facilitated by Giovanni Vasquez and Andros Sarduy from Synergy Realty Advisors.
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
8.26%
Cash-on-Cash
-2.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93