Lurra Capital Acquires Hialeah Multifamily In $7M Deal
SOLD
$7,000,000
Florida
See Similar DealsMultiFamily18,760 SF
Sold 05/04/2022
SOLD
Lurra Capital Acquires Hialeah Multifamily In $7M Deal
885 E 1st Ave, Hialeah, Florida 33010, United States
See Similar DealsMultiFamily18,760 SF
Sold 05/04/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$373
Total Square Footage:18,760 SF
Transaction Type:Sale
Located at 885 E 1st Ave in Hialeah, this multifamily property was recently sold in a closed transaction. The property, owned by Prestige Builders and represented by Alex Ruiz, was purchased by Lurra Capital, with Tyron Birkmeir and Paul Coelho as the buyers. The deal was facilitated by brokers Calum Weaver and Perry Synanidis from Cushman & Wakefield.
Summary of transation details
- Property Type: Multifamily
- Sale Price: $7,000,000
- Units: 28
- Price per Unit (PPU): $250,000
- Square Footage (SF): 18,760
- Price per Square Foot (PPSF): $373
The sale of this multifamily property showcases the successful transaction between Prestige Builders and Lurra Capital. Led by Tyron Birkmeir and Paul Coelho, Lurra Capital made a strategic investment in Hialeah. Their acquisition was facilitated by brokers Calum Weaver and Perry Synanidis from Cushman & Wakefield, who provided their expertise in navigating the deal and ensuring a smooth transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85
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