Brian Kim & John Prete Acquire Multifamily Property In Homestead, FL For $13.9M
SOLD
Florida
See Similar DealsMultiFamily26,165 SF
Sold 01/19/2022
SOLD
Brian Kim & John Prete Acquire Multifamily Property In Homestead, FL For $13.9M
Palm Dr, Homestead, Florida 33035, United States
See Similar DealsMultiFamily26,165 SF
Sold 01/19/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$532
Total Square Footage:26,165 SF
Transaction Type:Sale
The multifamily property located at 601 E Palm Dr in Homestead, FL has been sold. The transaction took place on January 19, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,943,658
- Address: 601 E Palm Dr, Homestead, FL
- Market: Homestead, FL
- Square Footage: 26,165
- Price per Square Foot: $532
The buyers, Brian Kim and John Prete, have acquired the property from the seller, Leon J Wolfe.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$743,661.78
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,538.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,100.05
Annual Debt Service$793,200.63
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