CA Ventures Acquires Multifamily Property In Coral Gables For $21M
SOLD
$21,000,000
Florida
See Similar DealsMultiFamily616 SF
Sold 04/01/2019
SOLD
CA Ventures Acquires Multifamily Property In Coral Gables For $21M
5830 Southwest 57th Avenue, Miami, FL, USA
See Similar DealsMultiFamily616 SF
Sold 04/01/2019
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$34,090
Total Square Footage:616 SF
Transaction Type:Sale
This multifamily property located at 5830 Southwest 57th Ave in Coral Gables, Miami, was recently sold for a total price of $21,000,000. The transaction took place on April 1, 2019. The property consists of 79 units, with a per unit price of $265,822.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $21,000,000
- Date: 04/01/2019
- Address: 5830 Southwest 57th Ave
- Market: Coral Gables
- City: Miami
- Buyer: CA Ventures - Katie Kazas and Tom Scott
- Seller: 5830 SW 57th Ave LLC
- Units: 79
- Price Per Unit: $265,822
Katie Kazas and Tom Scott, representing CA Ventures, acted as the buyers in this transaction. They acquired the property from 5830 SW 57th Ave LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,120,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56
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