SOLDMultiFamily
Arash Gohari Acquires 18-Unit Multifamily In Miami Beach For $3M
7291 Gary Avenue, Miami Beach, FL 33141
$3,000,000
$195/SF
Building Size
15,340 SF
Asset Type
MultiFamily
Closing
Oct 13, 2021
AI
An 18-unit multifamily property located at 7291 Gary Avenue in Miami Beach has been sold for $3,000,000. The property spans a total area of 15,340 square feet, with each unit having an average size of 852 square feet. The price per unit was calculated to be $166,667, while the price per square foot was $196.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $3,000,000
- Address: 7291 Gary Avenue, Miami Beach
- Market: Miami Beach
- Units: 18
- PPU: $166,667
- SF: 15,340
- PPSF: $196
The buyer of the property is Arash Gohari, while the seller is Carol Finklehoffe. The transaction was facilitated by Virgilio Fernandez from Colliers International, who represented both parties in the deal.
Players
Miami Beach 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93