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Mor Sharabani's Miamor Invesment Group Acquires Multifamily Property In Miami Beach For $1.42M

Property Image
SOLD
$1,420,000

Florida

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MultiFamily6,563 SF
Sold 01/08/2021
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Property Image
SOLD

Mor Sharabani's Miamor Invesment Group Acquires Multifamily Property In Miami Beach For $1.42M

8205 Crespi Boulevard, Miami Beach, FL, USA

See Similar Deals
MultiFamily6,563 SF
Sold 01/08/2021
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$216
Total Square Footage:6,563 SF
Transaction Type:Sale

Located at 8205 & 8215 Crespi Boulevard in Miami Beach, this multifamily property was recently sold. The sale was facilitated by broker Karin Benyamin, representing the buyer Mor Sharabani from Miamor Invesment Group and the seller Yoni Dahan from Soly Group. The transaction took place on 01/08/2021.

Summary of transaction details

  • Property Type: Multifamily
  • Sale Price: $1,420,000
  • Square Footage: 6,563
  • Price per Square Foot: $216
  • Number of Units: 8
  • Price per Unit: $177,500
  • Market: Miami Beach

Mor Sharabani, through Miamor Invesment Group, plans to utilize the unused air rights of the property to expand its potential. The plan includes the addition of 10-20 units and boat slips along the canal. Mor is actively seeking value-add multifamily acquisitions in Miami and can be contacted at [email protected] for potential opportunities.

Players

1 deal$1.4M volume
BROKER

Details

SOLD
IMAGE: Mor Sharabani DATE: 01/08/2021 ADDRESS: 8205 & 8215 Crespi Boulevard MARKET: Miami Beach ASSET TYPE: Multifamily BUYER: Mor Sharabani (@Mor_Sharabani) - Miamor Invesment Group SELLER: Yoni Dahan - Soly Group BROKER: Karin Benyamin (@KarinBenyamin) ASKING PRICE: $2,000,000 SALE PRICE: $1,420,000 SF: 6,563 ~ PPSF: $216 UNITS: 8 ~ PPU: $177,500 NOTES: Mor Sharabani plans to take advantage of unused air rights to add 10-20 units as well as boat slips on the canal. Mor is actively seeking value add multi-family acquisitions in Miami. Please send potential opportunities to: [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$75,733.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,044.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,731.52
Annual Debt Service$80,778.29