Arash Gohari Of 27 Capital Acquires Multifamily Property In North Miami For $1.62M

12287 Northeast 7th Avenue is a 9-unit multifamily property located in the North Miami market. The property was sold for $1,620,000, which equates to $180,000 per unit and $308 per square foot. The asset is situated on a 20,000-square-foot lot, providing a land basis of $85 per square foot.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,620,000
• Units: 9
• Price Per Unit: $180,000
• Square Footage: 5,256
• Price Per Square Foot: $308
• Buyer: Arash Gohari - 27 Capital, Adam Sasouness, Stephen Garchik, Sydne Garchik
• Seller: Marlin Liff

Arash Gohari, representing 27 Capital, is involved in the acquisition along with partners Adam Sasouness, Stephen Garchik, and Sydne Garchik. The buyer's strategy includes strategic renovations to enhance the property's operational performance, targeting tenants in emerging neighborhoods that are experiencing transformation.