Nam Hun Acquires Hialeah Multifamily For $9.86M With Buyer's Rep Victor M. Jaramillo
710 East 9th Avenue
$9,860,000
$281/SF
Building Size
35,000 SF
Asset Type
MultiFamily
Closing
Feb 23, 2024
AI
The multifamily property located at 710 East 9th Avenue in Hialeah was sold for $9,860,000. This property consists of 34 units with a total square footage of 35,000. The price per unit was $290,000, and the price per square foot was $282.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,860,000
- Buyer: Nam Hun
- Buyer's Representative: Victor M. Jaramillo (Cbi.RealEstate) - CBI Real Estate
Victor M. Jaramillo of CBI Real Estaterepresented the buyer, Nam Hun, in this transaction. The buyer's goal was to achieve their financial targets by selling their warehouse in Doral, Florida, through a 1031 exchange and acquiring this off-market multifamily property. This new investment allowed the buyer to triple their monthly income. Victor Jaramillo mentioned that they have access to a variety of off-market multifamily and industrial properties in Miami, Florida, to assist clients in identifying similar investment opportunities tailored to their requirements.
Hialeah 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
1.61%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93