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8038 Northeast 2nd Avenue

Dwntwn Realty Advisors Acquires Multifamily Property In Little River For $13.3M
SOLDMultiFamily

Dwntwn Realty Advisors Acquires Multifamily Property In Little River For $13.3M

8038 Northeast 2nd Avenue

$13,300,000

$140/SF

Building Size

95,000 SF

Asset Type

MultiFamily

Closing

Oct 27, 2022

AI

The multifamily property located at 8038 NE 2nd Avenue in Little River has been sold for a total price of $13,300,000. Spanning across 95,000 square feet, the property is valued at $140 per square foot.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $13,300,000
  • Address: 8038 NE 2nd Avenue
  • Market: Little River

The sale of this multifamily property was facilitated by Thomas Conway from Qualcon Little River, representing the seller. The buyer, on the other hand, was represented by Tony Arellano and Devlin Marinoff from Dwntwn Realty Advisors. Alfredo Riascos from Gridline Properties acted as the seller's representative in the transaction.

Players

Tony Arellano
Verified Badge

Tony Arellano

DWNTWN Realty Advisors

Broker

$1.6B

vol

152 deals

Broker

Thomas Conway

Seller

$31.5M

vol

2 deals

Seller

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

1.19%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93