Updated Apr 7, 2025
Santiago A. Alvarez Acquires Multifamily Property In Miami For $1.705 Million From Fleurgin Rochelin
9580 Northwest 4th Avenue
$1,705,000
$332/SF
Building Size
5,128 SF
Asset Type
MultiFamily
Closing
Mar 31, 2025
About this deal
AI
Santiago A. Alvarez acquired a 10-unit multifamily property, consisting of 5,128 square feet, located at 9580 Northwest 4th Avenue in Miami for $1,705,000. The property, sitting on 0.45 acres, was formerly owned by Fleurgin Rochelin.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,705,000
- Units: 10
- Price Per Unit: $170,500
- Square Footage: 5,128
- Price Per Square Foot: $332
- Buyer: Santiago A. Alvarez
- Seller: Fleurgin Rochelin
- Brokers: Janet Crucet & Kristine Flook - Urbanize Properties
Kristine Flook and Janet Crucet from Urbanize Properties represented the buyer, Santiago A. Alvarez, during the transaction. The deal highlights the collaborative efforts of the brokers in facilitating the acquisition of this multifamily asset.
On the Map
$1,705,000
$332/SF
MultiFamily
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Players
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
9.30%
Cash-on-Cash
-2.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93