Luis Salinas Of Safer Capitol Acquires Miami Multifamily For $1.75M
1261 Northwest 59th Street, Miami, FL 33142
$1,750,000
$189/SF
Building Size
9,255 SF
Asset Type
MultiFamily
Closing
Dec 16, 2021
AI
The multifamily property located at 1261 NW 59th St in Miami has been sold. The sale was finalized on 12/16/2021. The property was listed for an asking price of $1,700,000 and was ultimately sold for $1,750,000. This property consists of 18 units, with a price per unit (PPU) of $97,222. The total square footage of the property is 9,255, with a price per square foot (PPSF) of $189.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $1,750,000
- Address: 1261 NW 59th St, Miami
- Market: Miami
- Units: 18
- PPU: $97,222
- Square Footage: 9,255
- PPSF: $189
The buyer of the property is Luis Salinas from Safer Capitol, while the seller is Martin Ugarte, who was represented by Dan Dratch, Oscar Banegas, and Greg Matus from Franklin Street.
Players
Miami MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.06%
Cash-on-Cash
-2.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93