Updated Dec 4, 2024
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
About this deal
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.
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