Alejandro Gershanik Buys Multifamily Property In Hialeah For $5.28M From Manuel Calas
SOLD
$5,280,000
Florida
See Similar DealsMultiFamily34,816 SF
Sold 05/01/2024
SOLD
Alejandro Gershanik Buys Multifamily Property In Hialeah For $5.28M From Manuel Calas
720 West 16th Street & 735 West 15th Street
See Similar DealsMultiFamily34,816 SF
Sold 05/01/2024
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$151
Total Square Footage:34,816 SF
Transaction Type:Sale
The multifamily property located at 720 West 16th Street & 735 West 15th Street in Hialeah, with a total of 24 units spanning 17,408 square feet, was sold for $5,280,000. The sale price equates to $220,000 per unit and $303 per square foot.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,280,000
- Units: 24
- Price per Unit: $220,000
- Square Footage: 17,408
- Price per Square Foot: $303
- Address: 720 West 16th Street & 735 West 15th Street
- Market: Hialeah
- Buyer: Alejandro Gershanik
- Seller: Manuel Calas
- Buyer's Rep: Alejandro Gershanik - BM2 Realty
- Seller's Rep: Miguel Solis - Douglas Elliman
Alejandro Gershanik represented himself and BM2 Realty in the transaction as the buyer's representative, while Miguel Solis of Douglas Elliman acted as the seller's representative, facilitating the deal between Alejandro Gershanik and Manuel Calas.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$281,599.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,758.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,029.89
Annual Debt Service$300,358.72
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