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9001 Collins Ave, Surfside,...

Steve Martinez Acquires Multifamily Property In Surfside For $11.6M
SOLDMultiFamily

Steve Martinez Acquires Multifamily Property In Surfside For $11.6M

9001 Collins Ave, Surfside, FL, USA

$11,600,000

$2,955/SF

Building Size

3,925 SF

Asset Type

MultiFamily

Closing

Feb 12, 2021

AI

Located at 9001 Collins Ave in Surfside, this multifamily property was recently sold in a transaction that closed in just 2 days. The property spans 3,925 square feet and was sold for a sale price of $11,600,000, which translates to a price per square foot of $2,955. The transaction took place on February 12, 2021.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $11,600,000
  • Address: 9001 Collins Ave, Surfside

The buyer of this property is Steve Martinez, while the seller is Mary Anne Shula. Elizabeth Rodriguez represented the buyer as their broker, and Ximena Peñuela represented the seller. Unfortunately, no additional information is available about the buyer or seller's respective agencies. The deal was closed in a swift two-day timeline, indicating a strong motivation from both parties.

Players

Elizabeth Rodriguez

The Keyes Company

Broker

$37.5M

vol

6 deals

Broker

Surfside 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

1.37%

Cash-on-Cash

-0.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93