7 Crowns Acquires Multifamily Property In Miami For $1.31M
SOLD
$1,310,000
Florida
See Similar DealsMultiFamily6,546 SF
Sold 06/07/2024
SOLD
7 Crowns Acquires Multifamily Property In Miami For $1.31M
60 Northwest 161st Street
See Similar DealsMultiFamily6,546 SF
Sold 06/07/2024
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$200
Total Square Footage:6,546 SF
Transaction Type:Sale
The multifamily property located at 60 Northwest 161st Street in Miami was sold for $1,310,000. The property consists of 8 units spanning 6,546 square feet, equating to a price per unit of $163,750 and a price per square foot of $200.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,310,000
- Units: 8
- Price per Unit: $163,750
- Square Footage: 6,546
- Price per Square Foot: $200
- Address: 60 Northwest 161st Street, Miami
Nicholas McAndrew of Marcus & Millichap represented the buyer, 7 Crowns, in the transaction, while the seller, Robert M Shuter, was represented by Nicholas McAndrew.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$69,866.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,654.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,210.07
Annual Debt Service$74,520.82
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