Andrew Idowu & Kene Okeke Acquire Vacant Multifamily Property In Miami For $3.15M

The vacant multifamily property located at 1020 Southwest 2nd Street in Miami has been sold in a closed transaction. The property is a multifamily development with a total of 20 units, consisting of 16 one-bedroom units and 4 two-bedroom units. The sale price for the property was $3,150,000, with a price per unit of $157,500. The total square footage of the property is 7,500, resulting in a price per square foot of $420. The building square footage is 8,438, with a price per building square foot of $373.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,150,000
• Units: 20
• Price per Unit: $157,500
• Square Footage: 7,500
• Price per Square Foot: $420
• Building Square Footage: 8,438
• Price per Building Square Foot: $373

The buyers of the property are Andrew Idowu and Kene Okeke. The seller is Horsebit Havana LLC. The deal was facilitated by brokers Carl Gorman and Ron Mann from APEX Capital Realty. Ron Mann and Carl Gorman represented both the buyer and seller in this transaction.

This multifamily property is located in the vibrant and culturally rich neighborhood of Little Havana in Miami. The property is strategically positioned to benefit from the ongoing renaissance happening in the area, making it an excellent investment opportunity.