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Warwick Mobile Home Park LLC Acquires SFR On Hibiscus Island, Miami Beach For $9.3M

Property Image
SOLD
$9,300,000
Danny "Daniel" Alvarez
Julian Johnston
+ 1

Florida

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Single Family Residence14,100 SF
Sold 04/15/2020
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Property Image
SOLD

Warwick Mobile Home Park LLC Acquires SFR On Hibiscus Island, Miami Beach For $9.3M

225 North Hibiscus Drive, Miami Beach, FL, USA & 225 North Hibiscus Drive, Miami Beach, FL, USA

See Similar Deals
Single Family Residence14,100 SF
Sold 04/15/2020
Danny "Daniel" Alvarez
Julian Johnston
+ 1
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$659
Total Square Footage:14,100 SF
Transaction Type:Sale

Located in the prestigious Hibiscus Island of Miami Beach, this single-family residence (SFR) at 225 North Hibiscus Drive has recently changed ownership. The property, spanning over 7,050 square feet, offers ample space for comfortable living. The transaction took place on April 15, 2020, with the buyer being Warwick Mobile Home Park LLC and the seller being World Missionary Press. The property was sold at a price of $9,300,000, resulting in a price per square foot of $1,319.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $9,300,000
  • Date: 04/15/2020
  • Address: 225 North Hibiscus Drive
  • Market: Hibiscus Island, Miami Beach
  • Buyer: Warwick Mobile Home Park LLC - Dalton Warwick
  • Seller: World Missionary Press
  • Buyer's Representative: Daniel Alvarez - Miles Goldstein Real Estate
  • Seller's Representative: Laurie Reader - Laurie Finkelstein Reader Real Estate LLC
  • Square Footage: 7,050
  • Price per Square Foot: $1,319

Daniel Alvarez, representing Miles Goldstein Real Estate, assisted Warwick Mobile Home Park LLC in the transaction. On the other hand, Laurie Reader, from Laurie Finkelstein Reader Real Estate LLC, acted as the seller's representative. The deal reflects the desirability of properties on Hibiscus Island and showcases the expertise of the involved individuals and companies.

Players

Chad Carroll
84 deals$1.7B volume(305) 400-9507
BROKER

Julian Johnston
The Corcoran Group
55 deals$777.3M volume(305) 502-3985
BROKER

Danny "Daniel" Alvarez
6 deals$34.4M volume
BROKER

Laurie Reader
1 deal$9.3M volume
BROKER

BUYER

Details

SOLD
IMAGE: Daniel Alvarez & Laurie Reader DATE: 04/15/2020 ADDRESS: 225 North Hibiscus Drive MARKET: Hibiscus Island, Miami Beach ASSET TYPE: SFR BUYER: Warwick Mobile Home Park LLC - Dalton Warwick SELLER: World Missionary Press BUYER’S REP: Daniel Alvarez - Miles Goldstein Real Estate SELLER’S REP: Laurie Reader - Laurie Finkelstein Reader Real Estate LLC PRICE: $9,300,000 SF: 7,050 ~ PPSF: $1,319

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

$496,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$33,040.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$44,086.74
Annual Debt Service$529,040.94