Joseph Daccarett Acquires Multifamily Property On Southwest 3rd Street For $4.1M

The asset involved in the transaction is a multifamily property located at 500 Southwest 3rd Street & 510 Southwest 3rd Street in the Miami market. The property consists of 20 units, with a total square footage of 10,324 and a price per unit of $205,000. The total sale price is $4,100,000, resulting in a price per square foot of $397.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,100,000
• Units: 20
• Price Per Unit: $205,000
• Square Footage: 10,324
• Price Per Square Foot: $397
• Buyer: Joseph Daccarett
• Seller: Izhak Wanounou
• Buyer's Representative: George Jimenez - J&Co. Commercial Real Estate
• Seller's Representative: Rafael Fermoselle - ElevenTrust Real Estate Services

The deal features George Jimenez and Rafael Fermoselle as the representatives for the buyer and seller, respectively. A key note from the broker indicates that the property was sold without a 40-year recertification, and the buyer plans to renovate the units to bring the rents to market.