Updated Sep 5, 2024
Marcus & Millichap Represents Sale Of 12-Unit Multifamily Property In Miami Beach For $2M
828 Pennsylvania Avenue, Miami Beach, FL 33139, USA
$2,000,000
$341/SF
Building Size
5,862 SF
Asset Type
MultiFamily
Closing
Nov 3, 2021
About this deal
AI
Located at 828 Pennsylvania Ave in Miami Beach, this multifamily property was recently sold in a closed transaction. The sale was facilitated by brokers Alec G. Bashein, Evan P. Kristol, and Felipe J. Echarte from Marcus & Millichap. The property consists of 12 units, with each unit having an average price per unit of approximately $166,666. The total sale price for the property was $2,000,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Address: 828 Pennsylvania Ave, Miami Beach
- Market: Miami Beach
- Brokers: Alec G. Bashein, Evan P. Kristol & Felipe J. Echarte - Marcus & Millichap
- Units: 12
- Price per Unit: $166,666
With a prime location in Miami Beach, this multifamily property offers a lucrative investment opportunity. The successful transaction was made possible by the expertise of Alec G. Bashein, Evan P. Kristol, and Felipe J. Echarte from Marcus & Millichap. The buyer and seller can both be satisfied with the outcome of this deal.
Players
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93