Loni Farhi Acquires Miami Beach SFR From Rafael And Mercedes Arango For $8M
SOLD
$8,000,000
Florida
See Similar DealsSingle Family Residence10,500 SF
Sold 08/01/2022
SOLD
Loni Farhi Acquires Miami Beach SFR From Rafael And Mercedes Arango For $8M
140 South Hibiscus Drive
See Similar DealsSingle Family Residence10,500 SF
Sold 08/01/2022
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$761
Total Square Footage:10,500 SF
Transaction Type:Sale
The property involved in this transaction is a single-family residence located at 140 Hibiscus Dr, within the Miami Beach market. The sale price for the property was $8,000,000, with a total square footage of 10,500, resulting in a price per square foot of $762.
Summary of transaction details:
- Property Type: SFR
- Transaction Amount: $8,000,000
- Address: 140 Hibiscus Dr
- Market: Miami Beach
- Square Footage: 10,500
- Price per Square Foot: $762
- Buyer: Loni Farhi
- Seller: Rafael Arango & Mercedes G. Arango
- Broker: Lissette Garcia - Leyva International Realty
The key individuals involved in this deal include buyer Loni Farhi and sellers Rafael Arango & Mercedes G. Arango. The transaction was facilitated by broker Lissette Garcia, who represented Leyva International Realty in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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