Eddie Irvine Acquires SFR In Miami Beach For $7.6M From Seller Neal & Becki Litman
SOLD
$7,600,000
Florida
See Similar DealsSingle Family Residence5,392 SF
Sold 12/17/2020
SOLD
Eddie Irvine Acquires SFR In Miami Beach For $7.6M From Seller Neal & Becki Litman
424 West Rivo Alto Drive, Miami Beach, FL, USA
See Similar DealsSingle Family Residence5,392 SF
Sold 12/17/2020
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,409
Total Square Footage:5,392 SF
Transaction Type:Sale
An SFR located at 424 Rivo Alto Drive in Miami Beach was recently sold for $7,600,000. The property spans 5,392 square feet, resulting in a price per square foot of $1,409. The sale took place on December 17, 2020, and the transaction involved the following key individuals and companies:
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $7,600,000
- Address: 424 Rivo Alto Drive
- Market: Miami Beach
The buyer, Eddie Irvine, acquired the property from Neal & Becki Litman. The transaction was facilitated by broker Julian Johnston from The Corcoran Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$405,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,001.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,027.88
Annual Debt Service$432,334.53
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