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Paul Ver Acquires Multifamily Property In Miami For $1.8M, Represented By Yaacov Poston, Uri Redler & Shlomo Poston

Property Image
SOLD
$1,800,000
Shlomo Poston
Yaacov Poston
+ 2

Florida

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Property Image
SOLD

Paul Ver Acquires Multifamily Property In Miami For $1.8M, Represented By Yaacov Poston, Uri Redler & Shlomo Poston

5611 Northeast 2nd Court, 225 Northeast 56th Street, 223 Northeast 56th Street, 229 Northeast 56th Street & 231 Northeast 56th Street

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MultiFamily22,870 SF
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$78
Total Square Footage:22870 SF
Transaction Type:Sale

An apartment complex located at 5611 Northeast 2nd Court, consisting of units 225, 223, 229, and 231 Northeast 56th Street, has been sold in Miami. The multifamily property was sold for a price of $1,800,000. It comprises 10 units with an average price per unit of $180,000. The total square footage of the property is 4,574, with an average price per square foot of $394.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,800,000
  • Address: 5611 Northeast 2nd Court, 225, 223, 229 & 231 Northeast 56th Street
  • Market: Miami
  • Units: 10
  • Price per Unit: $180,000
  • Square Footage: 4,574
  • Price per Square Foot: $394

The transaction was facilitated by the real estate brokerage firm, The Real Estate Lab, with the representatives involved being Yaacov Poston, Uri Redler, and Shlomo Poston. The buyer, Paul Ver, acquired the property from the sellers, Shai Yitzhaki and Guy Goldberg.

Players

Yaacov Poston
29 deals$62.1M volume
BROKER

Shlomo Poston
The Real Estate Lab
26 deals$62.7M volume
BROKER

Uri Redler
Cervera Real Estate
18 deals$48.9M volume(305) 374-3434
BROKER

Guy Goldberg
9 deals$51.3M volume
SELLER

Guy Goldberg
9 deals$51.3M volume
SELLER

Shai Yitzhaki
8 deals$48.2M volume
SELLER

Shai Yitzhaki
8 deals$48.2M volume
SELLER

Details

SOLD
IMAGE: Uri Redler, Yaacov Poston & Shlomo Poston DATE: 12/05/2023 ADDRESS: 5611 Northeast 2nd Court, 225, 223, 229 & 231 Northeast 56th Street MARKET: Miami ASSET TYPE: Multifamily BUYER: Paul Ver SELLER: Shai Yitzhaki (@yitzhakis) & Guy Goldberg (@guygoldberg) BROKERS: Yaacov Poston (@YaacovPo), Uri Redler (@UriRedler) & Shlomo Poston (@Zalman_sp) - The Real Estate Lab (@TREL.Miami) SALE PRICE: $1,800,000 UNITS: 10 ~ PPU: $180,000 SF: 4,574 ~ PPSF: $394

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$96,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02