Alejandro Paez Acquires Multifamily Property In Little Havana For $1.48M
SOLD
$1,480,000
Florida
See Similar DealsMultiFamily7,020 SF
Sold 11/04/2022
SOLD
Alejandro Paez Acquires Multifamily Property In Little Havana For $1.48M
701 Northwest 1st Street & 711 Northwest 1st Street
See Similar DealsMultiFamily7,020 SF
Sold 11/04/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$210
Total Square Footage:7,020 SF
Transaction Type:Sale
A multifamily property located at 701-711 NW 1st St in Little Havana, Miami, FL has been sold for a total price of $1,480,000. The property consists of 8 units, with each unit costing $185,000. The total square footage of the property is 3,510, resulting in a price per square foot of $422.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,480,000
- Units: 8
- Price Per Unit: $185,000
- Total Square Footage: 3,510
- Price Per Square Foot: $422
- Address: 701-711 NW 1st St, Little Havana, Miami, FL
- Market: Little Havana, Miami, FL
Alejandro Paez has purchased the property from Tom Sherman and Francisco Rodriguez Melo. Evian Rodriguez of Cedano Realty Advisors represented Alejandro Paez in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$78,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,258.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,015.96
Annual Debt Service$84,191.46
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