Updated Sep 9, 2024
Michael Fernandez Acquires Multifamily Property In Miami From Manuel Pino For $1.4M
551 Southwest 57th Avenue, Miami, Florida 33144, United States
$1,364,000
$363/SF
Building Size
3,755 SF
Asset Type
MultiFamily
Closing
Jun 1, 2022
About this deal
AI
A multifamily property located at 551 & 561 SW 57th Ave in Miami has been sold for a total of $1,364,000. The property consists of 8 units with a price per unit of $170,500. The total square footage of the property is 3,755 with a price per square foot of $363.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,364,000
- Date: 06/02/2022
- Address: 551 & 561 SW 57th Ave, Miami
- Market: Miami
The buyer of the property is Michael Fernandez, and the seller is Manuel Pino. The transaction was facilitated by Bobby Berrido from an unknown agency.
Miami MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Bobby Berrido, CCIM to view all their deals.
Browse Florida multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.63%
Cash-on-Cash
-3.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93