Elchanan Kagan Acquires Multifamily In Little River, Miami For $7.17M From Seller Thomas Neary
SOLD
$7,170,000
Florida
See Similar DealsMultiFamily19,844 SF
Sold 06/10/2022
SOLD
Elchanan Kagan Acquires Multifamily In Little River, Miami For $7.17M From Seller Thomas Neary
500 Northeast 78th Street, Miami, Florida 33138, United States
See Similar DealsMultiFamily19,844 SF
Sold 06/10/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$361
Total Square Footage:19,844 SF
Transaction Type:Sale
A multifamily property located at 500 NE 78th St & 522 NE 78 St in Little River, Miami, has been sold for a total price of $7,170,000. The transaction took place on 06/10/2022. The property consists of 43 units, with an average price per unit of $166,744. The total square footage of the property is 19,844, with a price per square foot of $361.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,170,000
- Units: 43
- Price per Unit: $166,744
- Total Square Footage: 19,844
- Price per Square Foot: $361
The buyer of the property is Elchanan Kagan, while the seller is Thomas Neary. The transaction was facilitated by Avigail Gayer from Beachfront Realty. Avigail Gayer can be contacted at 347.359.0371 for off-market properties and opportunities.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$382,399.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,473.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,989.46
Annual Debt Service$407,873.50
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