Updated Oct 29, 2024
JMS Management Enterprise Acquires Multifamily Property In Model City For $3.47M From Seller Opa Locka Holdings
820 NW 70th St, Miami, FL 33150, USA
$3,475,000
$121/SF
Building Size
28,600 SF
Asset Type
MultiFamily
Closing
Apr 29, 2020
About this deal
AI
The multifamily property located at 820-844 NW 70th Street in Model City has been sold for a price of $3,475,000. The property spans over 28,600 square feet, resulting in a price per square foot of $121. The transaction involved a total of 36 units, with a price per unit of $96,527.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,475,000
- Square Footage: 28,600
- Price per Square Foot: $121
- Number of Units: 36
- Price per Unit: $96,527
JMS Management Enterprise LLC, represented by Julian Geraldo Sr, acted as the buyer in this transaction. The seller was Opa Locka Holdings LLC, represented by Adam Hendry. The brokers involved in the deal were Virgilio Fernandez, Mitash Kripalani, Julian Zuniga, and Gerard Yetming.
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
4.56%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93