Updated Oct 28, 2024
Albert Ali Acquires Multifamily Property In Miami Beach For $3.6M
8260 Byron Avenue, Miami Beach, FL, USA
$3,600,000
$360/SF
Building Size
10,000 SF
Asset Type
MultiFamily
Closing
Jul 13, 2020
About this deal
AI
The multifamily property located at 8260 Byron Avenue in Miami Beach has been sold. The transaction took place on July 13, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,600,000
- Address: 8260 Byron Avenue, Miami Beach
- Market: Miami Beach
The buyer of the property is Albert Ali, while the seller is AJP Ventures. The deal was facilitated by Garrett Pordes, Calum Weaver, and Perry Synanidis from Cushman & Wakefield.
The property was listed with an asking price of $3,650,000, and it was sold for $3,600,000. The multifamily asset consists of 20 units, with a price per unit (PPU) of $180,000. The total square footage of the property is 10,000, resulting in a price per square foot (PPSF) of $360. The capitalization rate (CAP) for this investment stands at 4.7%.
On the Map
$3,600,000
$360/SF
MultiFamily
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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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93