Colliers Acquires Multifamily Site In Miami For $10.5M

An assemblage of 42 units on a 1.33-acre site located at 10710 & 10742 SW 5th Street in Miami was recently sold for a record price of $10,500,000. The multifamily property encompasses approximately 5,000 square feet, with each unit valued at $250,000. This translates to a price per square foot of $2,100. The sale was facilitated by brokers Mitash Kripalani and Virgilio Fernandez from Colliers.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,500,000
• Address: 10710 & 10742 SW 5th Street, Miami
• Market: Miami
• Acres: 1.33
• Units: 42
• Price per Unit: $250,000
• Square Feet: 5,000
• Price per Square Foot: $2,100

Mitash Kripalani and Virgilio Fernandez, both from Colliers, successfully facilitated the sale of this assemblage. With their expertise in the FIU submarket, they achieved a record-breaking price for this property, attracting new buyers to the area. If you are considering selling your property, we encourage you to reach out to Mitash at 786 271 5598 or Virgilio at 305 613 4507 for a free valuation.