Carlos Parra Buys Multifamily Property From Javier Lopez In Miami For $1,192,500
1631 Northwest 3rd Street
$1,192,500
$310/SF
Building Size
3,840 SF
Asset Type
MultiFamily
Closing
Sep 15, 2025
AI
A multifamily property located at 1631 Northwest 3rd Street in Miami has been sold for $1,192,500. The asset comprises 8 units within a total square footage of 3,840. The price per unit stands at $149,062, while the price per square foot is recorded at $310. The sale was conducted as-is, incorporating existing liens and violations, with the 40-year recertification and demolition order pending.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,192,500
- Buyer: Carlos Parra
- Seller: Javier Lopez
- Units: 8
- Square Footage: 3,840
- Price per Unit: $149,062
- Price per Square Foot: $310
- Market: Miami
- Brokers: Francisco Campos & Donna Emma Ternus - Campos Commercial Real Estate
Francisco Campos and Donna Emma Ternus represented the seller in this transaction, facilitating a seller-financing deal for the property. Their team emphasizes expert guidance for those considering property acquisitions or sales to reach investment objectives.
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
13.30%
Cash-on-Cash
-3.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93