Francisco Lagos Marmol Acquires MultiFamily In Hialeah From Jorge Perez For $8.8M

The multi-family property located at 50 East 21 Street, 33 East 20 Street, and 34 East 21 Street in Hialeah has been sold. The property consists of 47 units with a total sale price of $8,800,000. This translates to an average price per unit of $187,234. The total lot size of the property measures 54,000 square feet, resulting in a price per square foot of $163. The transaction was completed on 08/15/2023.

Summary of Transaction Details:

• Property Type: MultiFamily
• Transaction Amount: $8,800,000
• Units: 47
• Price per Unit: $187,234
• Lot Size: 54,000 square feet
• Price per Square Foot: $163
• Market: Hialeah

The buyer of the property is Francisco Lagos Marmol, while the seller is Jorge Perez. The transaction was facilitated by Rafael Fermoselle and David Fermoselle from ElevenTrust Real Estate Services acting as brokers for both parties. It is worth noting that the property attracted significant interest, resulting in over five competitive offers being made to the seller. As a result, the closing process was completed within a record-breaking 30 days.