Updated Dec 4, 2024
Avraham Y. Ebenstein Acquires Multifamily Complex In North Miami For $5.9M With Freddie Mac Financing
580 Northeast 127th Street
$5,900,000
$178/SF
Building Size
32,975 SF
Asset Type
MultiFamily
Closing
Nov 3, 2024
About this deal
AI
A 30-unit apartment complex located at 580 Northeast 127th Street in North Miami was sold for $5,900,000. The property spans 32,975 square feet over 0.38 acres and features a four-story building under R-2 zoning.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,900,000
- Units: 30
- Price Per Unit: $196,667
- Square Footage: 32,975
- Price Per Square Foot: $179
- Buyer: Avraham Y. Ebenstein
- Seller: David Halabu & Samuel Soriero
- Brokers: Felipe Echarte & Nicholas McAndrew - Marcus & Millichap
- Lender: Freddie Mac
- Loan Amount: $4,220,000
- Loan Maturity: December 2029
The transaction was facilitated by brokers Felipe Echarte and Nicholas McAndrew from Marcus & Millichap. The property was financed through a Freddie Mac loan via Arbor Agency Lending, contributing to the completion of this multifamily deal.
On the Map
$5,900,000
$178/SF
MultiFamily
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North Miami MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93