Marcus & Millichap Represents Sale Of 12-Unit Multifamily Property In Miami Beach For $2M
SOLD
$2,000,000
Florida
See Similar DealsMultiFamily5,862 SF
Sold 11/03/2021
SOLD
Marcus & Millichap Represents Sale Of 12-Unit Multifamily Property In Miami Beach For $2M
828 Pennsylvania Avenue, Miami Beach, FL 33139, USA
See Similar DealsMultiFamily5,862 SF
Sold 11/03/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$341
Total Square Footage:5,862 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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