Albert Ali Acquires Multifamily Property In Miami Beach For $3.6M
SOLD
$3,600,000
Florida
See Similar DealsMultiFamily10,000 SF
Sold 07/13/2020
SOLD
Albert Ali Acquires Multifamily Property In Miami Beach For $3.6M
8260 Byron Avenue, Miami Beach, FL, USA
See Similar DealsMultiFamily10,000 SF
Sold 07/13/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$360
Total Square Footage:10,000 SF
Transaction Type:Sale
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%.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$192,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04
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