Andres Guzman Acquires Miami Springs Multifamily For $7M
SOLD
$7,000,000
Florida
See Similar DealsMultiFamily31,754 SF
Sold 06/10/2022
SOLD
Andres Guzman Acquires Miami Springs Multifamily For $7M
611 Forrest Drive, Miami Springs, Florida 33166, United States
See Similar DealsMultiFamily31,754 SF
Sold 06/10/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$220
Total Square Footage:31,754 SF
Transaction Type:Sale
A multifamily property located at 611 Forrest Dr in Miami Springs has been sold for a total price of $7,000,000. The transaction took place on 06/10/2022. The property consists of 37 units, with an average price per unit (PPU) of $189,189. The total square footage of the property is 32,250, resulting in a price per square foot (PPSF) of $217.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,000,000
- Address: 611 Forrest Dr, Miami Springs
- Market: Miami Springs
- Units: 37
- PPU: $189,189
- Square Footage: 32,250
- PPSF: $217
The buyer of the property is Andres Guzman, while the sellers are Freddy & Joseph Sayegh. The deal was facilitated by brokers Felipe Echarte, Evan Kristol, and Alejandro Gonzalez from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85
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