Michael Ruiz Acquires Multifamily Property In Little Havana, Miami For $5.3M
SOLD
$5,300,000
Florida
See Similar DealsMultiFamily14,852 SF
Sold 09/01/2022
SOLD
Michael Ruiz Acquires Multifamily Property In Little Havana, Miami For $5.3M
620 SW 4th St, Miami
See Similar DealsMultiFamily14,852 SF
Sold 09/01/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$356
Total Square Footage:14,852 SF
Transaction Type:Sale
A multifamily property in Little Havana, Miami has been sold for a price of $5,300,000. The property, located at 620 SW 4th St, 600 SW 10 St & 1653 NW 1 St, consists of 24 units with a total of 14,852 square feet. The sale price equates to approximately $357 per square foot, and the per unit price stands at $220,833.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,300,000
- Units: 24
- Price per Unit: $220,833
- Square Footage: 14,852
- Price per Square Foot: $357
- Address: 620 SW 4th St, 600 SW 10 St & 1653 NW 1 St, Little Havana, Miami
The buyer of the property is Michael Ruiz, while the sellers are Alexander Levy, Francisco Lagos, and Oscar Camino. The transaction was facilitated by the broker representatives Rafael Fermoselle and David Fermoselle from ElevenTrust Real Estate Services.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$282,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,829.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,124.70
Annual Debt Service$301,496.45
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