Westdale Acquires Multifamily Asset In West Miami For $82.9M
6320 Southwest 8th Street, West Miami, FL, USA
$82,917,040
$6,678/SF
Building Size
12,416 SF
Asset Type
MultiFamily
Closing
Jun 22, 2020
AI
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
West Miami MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93