Miami Apartments SOLD

[Kristine Flook]

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $13,187,000
Sale price: $13,187,000

90 unit complex known as Airport Villas at 4325 to 4335 Northwest South Tamiami Canal Drive sold for $147,000 per unit $13.2M. #UrbanizeProperties team Janet Crucet and Kristine Flook represented the seller in this off market transaction closed July 16 2020 in Miami Fl. The seller operated the apartments as short-term rentals, and the buyer Javier Cervera plans to convert them back to traditional apartments. Closing during COVID-19. The property Class B,developed in 1972

What made you interested in investing in this type of deal?

https://therealdeal.com/miami/2020/07/16/javier-cervera-jr-buys-apartment-complex-near-miami-international-airport/

How did you find this deal and how did you negotiate it?

Contacting the owner who we previously completed successful closing other properties

How did you add value to the deal?

Market Rate Value Add

What was the outcome?

1031 Exchange Transaction

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Janet Crucet and Kristine Flook Urbanize Properties