Rental Asset Management Acquires Multifamily Property In Hialeah For $17.5M
SOLD
$17,500,000
Florida
See Similar DealsMultiFamily76,718 SF
Sold 08/23/2021
SOLD
Rental Asset Management Acquires Multifamily Property In Hialeah For $17.5M
7200 West 10th Court, Hialeah, FL 33014
See Similar DealsMultiFamily76,718 SF
Sold 08/23/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$228
Total Square Footage:76,718 SF
Transaction Type:Sale
The multifamily property located at 7200 W 10th Court in Hialeah was recently sold in a closed transaction. The property comprises 112 units with a total area of 76,718 square feet. The sale price for this transaction was $17,500,000, resulting in a price per unit of $156,250 and a price per square foot of $228.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,500,000
- Date: 08/23/2021
- Market: Hialeah
- Buyer: Rental Asset Management - Andres Guzman
- Seller: PISMO - Steven Levy
- Brokers: Calum Weaver - Cushman & Wakefield | Perry Synanidis - Cushman & Wakefield
The buyer in this transaction was Rental Asset Management, represented by Andres Guzman, while the seller was PISMO, represented by Steven Levy. The deal was facilitated by Calum Weaver and Perry Synanidis from Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$62,173.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,958.93
Annual Debt Service$995,507.14
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