Updated Dec 4, 2024
Mike Ruiz Acquires Multifamily Property From Jose Aleman In Miami
739 Southwest 9th Street
$2,425,000
$336/SF
Building Size
7,217 SF
Asset Type
MultiFamily
Closing
Jun 14, 2024
About this deal
AI
The multifamily property located at 739 Southwest 9th Street in Miami was sold for $2,425,000. The property comprises 9 units with a total square footage of 7,217. The price per unit was $269,444, and the price per square foot was $336.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,425,000
- Buyer: Mike Ruiz
- Seller: Jose Aleman
- Brokers: Rafael Fermoselle & David Fermoselle - ElevenTrust Real Estate Services
Rafael Fermoselle and David Fermoselle from ElevenTrust Real Estate Services represented the parties involved in the transaction, ensuring a successful sale of the multifamily property in Miami.
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
6.54%
Cash-on-Cash
-1.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93