Mussadiq Muhammad Acquires Multifamily Asset In Miami From Avi Rave For $3.3M
345 Northwest 3rd Street
$3,300,000
$194/SF
Building Size
17,000 SF
Asset Type
MultiFamily
Closing
Jan 29, 2026
AI
This multifamily asset is located at 345 Northwest 3rd Street in Miami and has a sale price of $3,300,000. The building features a total area of 17,000 square feet, resulting in a price per square foot of $194. It is a fully gutted, value-add property situated in the heart of Miami's Urban Core.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $3,300,000
- Address: 345 Northwest 3rd Street
- Market: Miami
- Sale Price: $3,300,000
- Square Footage: 17,000
- Price per Square Foot: $194
- Buyer: Mussadiq Muhammad
- Seller: Avi Rave
- Brokers: David Cohen & Joseph Phelps - Horvath & Tremblay
The transaction involved buyer Mussadiq Muhammad acquiring the property from seller Avi Rave, with brokerage representation by David Cohen and Joseph Phelps from Horvath & Tremblay. Note from broker indicates that this building presents a value-add opportunity in a prime location within the urban core of Miami.
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
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93