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Amir Ahdoot Purchases 8-Unit Multifamily Property From John Cannizzaro For $1.95M In Miami Beach

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SOLD
$1,950,000

Florida

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MultiFamily8,280 SF
Sold 11/19/2024
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Property Image
SOLD

Amir Ahdoot Purchases 8-Unit Multifamily Property From John Cannizzaro For $1.95M In Miami Beach

6871 Abbott Avenue

See Similar Deals
MultiFamily8,280 SF
Sold 11/19/2024
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$235
Total Square Footage:8,280 SF
Transaction Type:Sale

The property asset involved in this transaction is an 8-unit multifamily building located at 6871 Abbott Avenue, Miami Beach. The property encompasses 8,280 square feet on a 0.14-acre lot. The sale was completed with a transaction amount of $1,950,000, resulting in a price per unit of $243,750 and a price per square foot of $236.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,950,000
  • Address: 6871 Abbott Avenue
  • Market: Miami Beach
  • Units: 8
  • Square Footage: 8,280
  • Price Per Unit: $243,750
  • Price Per Square Foot: $236

This transaction involved Amir Ahdoot as the buyer, acquiring the property from seller John Cannizzaro. The deal was brokered by Evan Kristol and Felipe Echarte from Marcus & Millichap. The property, constructed in 1948, was acquired by Ahdoot with no recorded debt associated with the purchase.

Players

Evan Kristol
59 deals$415.5M volume
BROKER

Felipe Echarte
Marcus & Millichap
44 deals$334.9M volume
BROKER

Details

SOLD
IMAGE: Felipe Echarte & Evan Kristol DATE: 11/19/2024 ADDRESS: 6871 Abbott Avenue MARKET: Miami Beach ASSET TYPE: Multifamily ~ ACRES: 0.14 BUYER: Amir Ahdoot SELLER: John Cannizzaro BROKERS: Evan Kristol (@Evan.Kristol) & Felipe Echarte (@Echarte1) - Marcus & Millichap (@Marcusmillichap_Fl) SALE PRICE: $1,950,000 UNITS: 8 ~ PPU: $243,750 SF: 8,280 ~ PPSF: $236 NOTE: Amir Ahdoot purchased an 8-unit multifamily property in a 2-story building on 0.14 acres in 1948 for $1.95M from an entity tied to John Cannizzaro. The deal, with no recorded debt, was brokered by Evan Kristol and Felipe Echarte of Marcus & Millichap.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$103,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,927.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,243.99
Annual Debt Service$110,927.94