Updated Sep 5, 2024
Alejandro Paez Acquires Multifamily Property In Little Havana For $1.48M
701 Northwest 1st Street & 711 Northwest 1st Street
$1,480,000
$210/SF
Building Size
3,510 SF
Asset Type
MultiFamily
Closing
Nov 4, 2022
About this deal
AI
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.
On the Map
$1,480,000
$210/SF
MultiFamily
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Players
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
10.72%
Cash-on-Cash
-3.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93