SAR Apartment Capital Acquires 81-Unit Multifamily Building In North Miami For $13M

An 81-unit multifamily property located at 14500 Northeast 6th Avenue in Miami has been sold for $13,000,000. The semi-distressed building, comprising 116,912 square feet, was purchased by SAR Apartment Capital. The sale price equates to $160,494 per unit and $111 per square foot.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $13,000,000
• Units: 81
• Price Per Unit (PPU): $160,494
• Square Footage (SF): 116,912
• Price Per Square Foot (PPSF): $111
• Market: Miami

Drew Dorsy from Boschetti Realty Group, Alex Isaia from Compass, and Sebastian Echeverri represented the parties involved in the transaction as brokers. The seller, AHDS Ocean King, was represented by Alvaro Castillo and Luis Bethenacourt. SAR Apartment Capital, a local investor group, was the buyer. The brokers note that there are off-market multi-family opportunities available by contacting Alex Isaia on DM.