Cathrine Aichinger Acquires Little Havana Multifamily For $1.125M With Seller's Rep Sofee Desai, Felipe Echarte & Evan Kristol

The asset involved in this transaction is a multifamily property located at 128 Northwest 9th Avenue in the Little Havana market of Miami. The property consists of 6 units with a total square footage of 3,130. The sale price for the asset was $1,125,000, resulting in a price per unit of $187,500 and a price per square foot of $359.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,125,000
• Units: 6
• Square Footage: 3,130
• Price Per Unit: $187,500
• Price Per Square Foot: $359
• Buyer: Cathrine Aichinger
• Seller: Nicolas Correa
• Seller's Representative: Sofee Desai, Felipe Echarte & Evan Kristol - Marcus & Millichap

Note from the seller's representative indicates that the buyer, an out-of-state investor, acquired the asset at a sub 5% in-place cap rate and is planning a full renovation. Little Havana continues to attract interest as a desirable submarket for foreign capital.