Updated Dec 4, 2024
Jorge Del Rey Acquires 4-Unit Multifamily In Miami For $1.15M
72 Grand Canal Drive
$1,150,000
$303/SF
Building Size
3,786 SF
Asset Type
MultiFamily
Closing
Oct 27, 2023
About this deal
AI
The multifamily property located at 72 Grand Canal Drive in Miami was recently sold. The property consists of 4 units with a total square footage of 3,786. The sale price for the property was $1,150,000, resulting in a price per unit of $287,500 and a price per square foot of $304.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,150,000
- Units: 4
- Price per Unit: $287,500
- Square Footage: 3,786
- Price per Square Foot: $304
The buyer of the property is Jorge Del Rey, while Victoria Van Ryn is the seller. The transaction was facilitated by Sam Mekras from MSP Group LLC, who represented both parties as the broker.
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
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93