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50 E 21st St Hialeah, FL 33...

Updated Oct 25, 2024

Francisco Lagos Marmol Acquires MultiFamily In Hialeah From Jorge Perez For $8.8M
SOLDMultiFamily

Francisco Lagos Marmol Acquires MultiFamily In Hialeah From Jorge Perez For $8.8M

50 E 21st St Hialeah, FL 33010, USA

$8,800,000

Units

47

Asset Type

MultiFamily

Closing

Aug 15, 2023

About this deal

AI

The multi-family property located at 50 East 21 Street, 33 East 20 Street, and 34 East 21 Street in Hialeah has been sold. The property consists of 47 units with a total sale price of $8,800,000. This translates to an average price per unit of $187,234. The total lot size of the property measures 54,000 square feet, resulting in a price per square foot of $163. The transaction was completed on 08/15/2023.

Summary of Transaction Details:

  • Property Type: MultiFamily
  • Transaction Amount: $8,800,000
  • Units: 47
  • Price per Unit: $187,234
  • Lot Size: 54,000 square feet
  • Price per Square Foot: $163
  • Market: Hialeah

The buyer of the property is Francisco Lagos Marmol, while the seller is Jorge Perez. The transaction was facilitated by Rafael Fermoselle and David Fermoselle from ElevenTrust Real Estate Services acting as brokers for both parties. It is worth noting that the property attracted significant interest, resulting in over five competitive offers being made to the seller. As a result, the closing process was completed within a record-breaking 30 days.

On the Map

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$8,800,000

MultiFamily

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Players

Rafael Fermoselle

ElevenTrust Real Estate Services

Broker

$111.6M

vol

23 deals

Broker

Francisco Lagos Marmol

Buyer

$25M

vol

5 deals

Buyer
Jorge Pérez

Jorge Pérez

Related Group

Seller

$2.3B

vol

33 deals

Seller
Bilt advertisement

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $187.2K per unit across 47 units on a published $8.8M (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.80%

Cash-on-Cash

-0.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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