Westdale Acquires Multifamily Asset In West Miami For $82.9M
SOLD
$82,917,040
Florida
See Similar DealsMultiFamily12,416 SF
Sold 06/22/2020
SOLD
Westdale Acquires Multifamily Asset In West Miami For $82.9M
6320 Southwest 8th Street, West Miami, FL, USA
See Similar DealsMultiFamily12,416 SF
Sold 06/22/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$6,678
Total Square Footage:12,416 SF
Transaction Type:Sale
The multifamily asset located at 6320 SW 8 ST in West Miami has been sold for $82,917,040. The transaction encompasses a total of 306 units, resulting in a price per unit of $270,971.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $82,917,040
- Units: 306
- Price Per Unit: $270,971
- Buyer: Westdale
- Seller: Estate Companies
- Brokers: Neyda Bravo @Neyda.Bravo & Luis Gonzalez @Lu.Gonzo - Bravo & Partners Realty @BravoandPartners
Neyda Bravo and Luis Gonzalez from Bravo & Partners Realty represented the buyers, Westdale, in this transaction. The sale showcases the collaboration between the brokers, enhancing the investment landscape in West Miami.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,422,242.12
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$294,586.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$393,069.07
Annual Debt Service$4,716,828.86
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