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948 Southwest 3rd Street, M...

Francisco Marmol Acquires Little Havana Multifamily For $4.1M
SOLDMultiFamily

Francisco Marmol Acquires Little Havana Multifamily For $4.1M

948 Southwest 3rd Street, Miami, Florida 33135, United States

$4,135,000

$233/SF

Building Size

17,730 SF

Asset Type

MultiFamily

Closing

May 24, 2022

AI

A multifamily property in Little Havana has been sold for a total of $4,135,000. The property, located at 948 SW 3rd Street, 43 Glen Royal Parkway, and 201 SW 21st Court, comprises a total of 23 units with a sale price per unit of $179,783. The total square footage of the property is 17,730, resulting in a price per square foot of $233.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,135,000
  • Units: 23
  • Price per Unit: $179,783
  • Square Footage: 17,730
  • Price per Square Foot: $233
  • Market: Little Havana

The buyer of the property is Francisco Marmol, while the seller is Gilbert Contreras. The transaction was facilitated by brokers Javier A Ubeda PA and Arthur Porosoff PA, representing the Porosoff Group. For more information regarding the transaction, interested parties can contact Javier at 305-766-1864. This off-market deal in Little Havana offers a prime opportunity for those seeking multifamily properties in the area.

Players

Arthur David Porosoff

POROSOFF

Broker

$180.7M

vol

25 deals

Broker

Gilbert A. Contreras

Seller

$17.7M

vol

3 deals

Seller

Miami 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

3.84%

Cash-on-Cash

-1.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93