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Jalal Abuimweis Acquires Opa Locka & Oakland Park Multifamily For $4.2M

Property Image
SOLD
$4,200,000

Florida

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MultiFamily37,248 SF
Sold 11/10/2021
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Property Image
SOLD

Jalal Abuimweis Acquires Opa Locka & Oakland Park Multifamily For $4.2M

Opa-locka, FL, USA

See Similar Deals
MultiFamily37,248 SF
Sold 11/10/2021
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$112
Total Square Footage:37,248 SF
Transaction Type:Sale

A multifamily property located in Opa Locka & Oakland Park has been sold in a recent transaction. The property, consisting of 40 units, spans a total area of 37,248 square feet. The sale was completed on 11/10/2021 by buyer Jalal Abuimweis, represented by The King's Estates, and seller Raul Fernandez. The asking price and final sale price were both $4,200,000. The per unit price for the property was $105,000, while the price per square foot was $113.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,200,000
  • Units: 40
  • Price per Unit: $105,000
  • Square Footage: 37,248
  • Price per Square Foot: $113

Jalal Abuimweis, representing The King's Estates, successfully acquired the multifamily property in Opa Locka & Oakland Park. Raul Fernandez served as the seller in this transaction. The deal closed on 11/10/2021 with both the buyer and seller agreeing to a sale price of $4,200,000.

Players

5 deals$17.7M volume
BUYER

Details

SOLD
IMAGE: Jalal Abuimweis DATE: 11/10/2021 MARKET: Opa Locka & Oakland Park ASSET TYPE: Multifamily BUYER: Jalal Abuimweis (@TheKingofMiamiRealEstate) - The King's Estates SELLER: Raul Fernandez ASKING PRICE: $4,200,000 SALE PRICE: $4,200,000 UNITS: 40 ~ PPU: $105,000 SF: 37,248 ~ PPSF: $113

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$223,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,921.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,910.14
Annual Debt Service$238,921.71