Marcus & Millichap Sells Venetian Isles Multifamily In Lighthouse Point For $9M

Austin Michels, Evan Kristol, and Brandon Rex from Marcus & Millichap have successfully sold Venetian Isles, a multi-family property located at 3861-3875 Northeast 22nd Avenue in the desirable market of Lighthouse Point, Florida. The property spans across 0.48 acres and comprises eight units. With a sale price of $9,000,000, each unit was sold for an impressive $1,125,000. The total square footage of the property is 25,748, resulting in a price per square foot of $350. This transaction showcases the high demand and competitive rental market in the area.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $9,000,000
• Property Address: 3861-3875 Northeast 22nd Avenue
• Market: Lighthouse Point
• Total Acres: 0.48

Austin Michels, Evan Kristol, and Brandon Rex, representing Marcus & Millichap, played a crucial role in facilitating this successful sale. Their expertise and knowledge of the local market contributed to the property's high per-unit sale price. The desirable features of Venetian Isles, coupled with the competitive rental market in Lighthouse Point, made this transaction a noteworthy achievement.