Michael Aleman And Brandon Krips Acquire Multifamily Property From Jonathan Parker For $2.88M
Northwest 61st Street & 7000 Northwest 8th Avenue
$2,880,000
$90/SF
Building Size
31,934 SF
Asset Type
MultiFamily
Closing
Dec 3, 2024
AI
The transaction involves a multifamily asset located at 1306 NW 61st St and 7000 Northwest 8th Avenue in the West Little River market. The sale price was $2,880,000, and the total square footage of the property is approximately 15,967, resulting in a price per square foot of $180.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,880,000
- Square Footage: 15,967
- Price Per Square Foot: $180
- Buyer: Michael Aleman & Brandon Krips
- Seller: Jonathan Parker
- Broker: Ernie Perez - Gridline Properties
- Date of Transaction: 12/03/2024
- Address: 1306 NW 61st St & 7000 Northwest 8th Avenue
- Market: West Little River
This deal highlights the involvement of broker Ernie Perez from Gridline Properties, representing the seller, Jonathan Parker, in facilitating the transaction between the buyers, Michael Aleman and Brandon Krips. The successful completion of this multifamily sale reflects the activity within the West Little River market.
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
5.51%
Cash-on-Cash
-1.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93