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5921 Southwest 123rd Avenue

Miami Brokers Group Sells Record-Breaking Horse Country Property For $7.995M
SOLDSingle Family Residence

Miami Brokers Group Sells Record-Breaking Horse Country Property For $7.995M

5921 Southwest 123rd Avenue

$7,995,000

$731/SF

Building Size

10,924 SF

Asset Type

Single Family Residence

Closing

Feb 9, 2024

AI

The property involved in this closed transaction is a single-family home located at 5921 Southwest 123rd Avenue in the Horse Country market of Miami. The property spans 10,924 square feet and was sold for a price of $7,995,000, resulting in a price per square foot of $732. This sale sets a new record as the highest residential transaction ever recorded west of US-1 in Miami.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $7,995,000
  • Square Footage: 10,924
  • Location: 5921 Southwest 123rd Avenue, Miami - Horse Country
  • Seller's Representative: Michael A. Diaz - Miami Brokers Group

This remarkable sale was facilitated by Michael A. Diaz of Miami Brokers Group, serving as the seller's representative. The achievement of this record-breaking transaction showcases the expertise and success of the involved parties in the competitive Horse Country market.

Players

Michael A. Diaz

Miami Brokers Group

Broker

$43.5M

vol

7 deals

Broker

Miami Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.98%

Cash-on-Cash

-0.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93