Updated Sep 9, 2024
Steve Schneider Acquires Single Family Property In Miami For $6.25M
7600 NW 27th Ave, Miami, FL, 33147
$6,250,000
Building Size
—
Asset Type
Single Family
Closing
Oct 6, 2017
About this deal
AI
The property involved in the transaction is Palm Lakes Mobile Home Park, a 6.9-acre mobile home park located at 7600 Northwest 27th Avenue in Miami, FL 33147. The asset consists of 120 mobile home pads, and real estate investor Steve Schneider purchased it for $6.25 million, amounting to about $57,500 per lot.
Summary of transation details:
- Property Type: Single Family
- Transaction Amount: $6,250,000.00
- Market: Miami
Michael Lewin and Kevin Morris of Colliers International represented the buyer, Steve Schneider, in the acquisition of Palm Lakes Mobile Home Park. The sellers of the property were Jay Suarez and Yaniv Nakash. The deal was described as a "long-term investment purchase" by listing agent Michael Lewin.
Players
Miami Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.54%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93