January 20, 2023 – Hernando Perez and Daniel Garcia of Horvath & Tremblay have arranged the sale of a twenty-nine (29) unit multi-family property in Hialeah, Florida. Perez and Garcia represented the seller to complete the transaction at a sale price of $5,500,000, a 4.11% cap rate.
The multi-family property is located at 1140 West 29th Street in Hialeah, Florida. The multi-family property contains twenty-nine (29) residential units in Hialeah, Florida. The Property consists of eleven (11, 1-Bedroom/1-Bathroom units and eighteen (18), 2-Bedroom/1-Bathroom units with 15,734 square feet of living area in 18,734 total gross square feet on a 0.54-acre parcel. The well-maintained two-story building features a gated, central courtyard and off-street parking for twenty-nine (29) vehicles. The Property is located along SW 29th Street, which is 0.5-miles from W Okeechobee Road, one of the primary commercial and commuter corridors within Hialeah and the city of Miami. The densely populated neighborhood consists primarily of commercial buildings and multi-family buildings, condominiums and single-family homes of similar age and construction as the Property. The location offers ease of access to major retailers, employment hubs, shopping, public transportation (several bus routes and the Okeechobee Metrorail Station), and major roads including Interstate US 27, SR-932, SR-934, SR-823, SR-953, and SR-826.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the Country. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.