Updated Oct 28, 2024
Lurra Capital Acquires Hialeah Multifamily In $7M Deal
885 E 1st Ave, Hialeah, Florida 33010, United States
$7,000,000
$373/SF
Building Size
18,760 SF
Asset Type
MultiFamily
Closing
May 3, 2022
About this deal
AI
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.
On the Map
$7,000,000
$373/SF
MultiFamily
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Players
Hialeah 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93