Rene & Daniel Vargas Acquire Multifamily Asset For $4.5M In Miami

A multifamily property located at 1440 S Le Jeune Rd in Miami was recently sold in a closed transaction. The property consists of 12 units spread across three separate multi-family apartment buildings. Each unit has been completely remodeled and features 2 bedrooms and 1 bathroom. The sale price for the property was $4,500,000, with each unit selling for $375,000. The total square footage of the property is 12,000, resulting in a price per square foot of $375.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $4,500,000
• Units: 12
• Price per Unit: $375,000
• Square Footage: 12,000
• Price per Square Foot: $375
• Address: 1440 S Le Jeune Rd
• Market: Miami

The buyers of the property are Rene & Daniel Vargas, while the seller is AP Realty. The transaction was facilitated by broker Miguel Solis of Solis Chirino Group at Douglas Elliman. Miguel Solis represented the buyers in this deal. The sale of this property marks the successful acquisition of an entire city block in Miami.

Note from broker: This deal presents a great opportunity to own 12 fully remodeled units in a prime location on Le Jeune R. The units offer 2 bedrooms and 1 bathroom each, providing comfortable and modern living spaces.