Puchero Corp. Acquires Multifamily Property In Hialeah For $17.2M
565 West 51st Place, Hialeah, Florida 33012, United States
$17,200,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 7, 2022
AI
Located in Hialeah, the recently closed transaction involved the sale of a multifamily property at 565 West 51st Place, 643, 651 & 725 West 29th Street. Marty Caparros represented the seller, Prestige Companies, in the deal. The buyer was Puchero Corp., with representation from Alberto Arceo. The transaction was facilitated with the help of Ocean Bank as the lender. The sale price for the property was $17,200,000, which equates to a price per unit of $200,000. The property consists of 86 units in total.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,200,000
- Date: 09/08/2022
- Address: 565 West 51st Place, 643, 651 & 725 West 29th Street, Hialeah
- Market: Hialeah
- Buyer: Puchero Corp. - Alberto Arceo
- Seller: Prestige Companies - Marty Caparros
- Lender: Ocean Bank
- Units: 86
- Price per Unit: $200,000
This transaction showcases the collaboration between Puchero Corp., led by Alberto Arceo, as the buyer, and Marty Caparros, representing the seller, Prestige Companies. Ocean Bank provided the necessary financing for the deal. The sale of this multifamily property at 565 West 51st Place, 643, 651 & 725 West 29th Street, Hialeah, demonstrates the thriving real estate market in the area.
Players
Hialeah MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93