Betsy Arcia Acquires Miramar Multifamily For $4.23M - Alec Demetriou, Joseph Thomas & Adam Duncan - Marcus & Millichap
SOLD
$4,230,000
+ 1
Florida
See Similar DealsMultiFamily7,859 SF
Sold 04/29/2022
SOLD
Betsy Arcia Acquires Miramar Multifamily For $4.23M - Alec Demetriou, Joseph Thomas & Adam Duncan - Marcus & Millichap
6224 Miramar Parkway, Miramar, Florida 33023, United States
See Similar DealsMultiFamily7,859 SF
Sold 04/29/2022
+ 1
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$538
Total Square Footage:7,859 SF
Transaction Type:Sale
The multifamily property located at 6224 Miramar Parkway and 7221 Venetian Street in Miramar was recently sold at a price of $4,230,000. The transaction took place on April 29, 2022. The property consists of 28 units, resulting in a price per unit (PPU) of $151,071. In terms of size, the property spans 14,650 square feet, making the price per square foot (PPSF) $289.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $4,230,000
- Units: 28
- Price per Unit (PPU): $151,071
- Square Feet: 14,650
- Price per Square Foot (PPSF): $289
The buyer of the property is Betsy Arcia, while the seller is Peter Politis. The deal was facilitated by the team at Marcus & Millichap, represented by brokers Alec Demetriou, Joseph Thomas, and Adam Duncan.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$225,600.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,028.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,052.36
Annual Debt Service$240,628.30
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