McLeod Capital Fund Inc Refinances SFR In Miami Beach With $1.5M Loan
226 West Rivo Alto Drive
$1,480,500
$141/SF
Building Size
10,500 SF
Asset Type
Single Family Residence
Closing
Feb 28, 2023
AI
The property involved in this transaction is a single-family home located at 226 West Rivo Alto Drive in Miami Beach. The property has a total square footage of 10,500, making it a spacious residence. The transaction took place on February 28, 2023.
Summary of transaction details
- Property Type: Single-Family Home
- Transaction Amount: Not mentioned
- Address: 226 West Rivo Alto Drive
- Market: Miami Beach
- Asset Type: SFR
- Square Footage: 10,500
The lender involved in this transaction is McLeod Capital Fund Inc. The loan amount for the refinance is $1,480,500. The loan terms include a 6.8% interest rate, a loan-to-value ratio (LTV) of 30%, and a 30-year fixed-rate mortgage (FRM) agreement. The landlord associated with the property is Verdezoto Trust. Avalon McLeod, representing McLeod Capital Fund Inc, acted as the broker for this deal.
Players
Market Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.71%
Cash-on-Cash
-3.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93