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Avraham Y. Ebenstein Acquires Multifamily Complex In North Miami For $5.9M With Freddie Mac Financing
SOLD
$5,900,000
Florida
See Similar DealsMultiFamily32,975 SF
Sold 11/03/2024
SOLD
Avraham Y. Ebenstein Acquires Multifamily Complex In North Miami For $5.9M With Freddie Mac Financing
580 Northeast 127th Street
See Similar DealsMultiFamily32,975 SF
Sold 11/03/2024
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$178
Total Square Footage:32,975 SF
Transaction Type:Sale
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$314,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,961.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,969.01
Annual Debt Service$335,628.12
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