Miami—Marcus & Millichap has announced the sale of 1281 Building, a 33-unit apartment community in Miami. The property sold for approximately $1.3 million.
Alejandro Gonzalez, associate, Evan Kristol, senior vice president investments and Felipe Echarte, vice president investments, at Marcus & Millichap’s Fort Lauderdale office, exclusively marketed the asset on behalf of the seller, a local limited liability company. The buyer was a private investor from Fort Lauderdale, Fla.
1281 Building was constructed in 1957 and sits on 0.36 acres. The three-story apartment property consists of 30 one-bedroom/one-bathroom units and three two-bedroom/one-bathroom units.
Situated at 1281 NW 61st St., within the Liberty City submarket, the property is located less than a mile from Interstate 95 and sits within walking distance from several retailers, including King Brothers Market, City Meat Market, Dunkin Donuts, Williams Food Market and Chico’s.
Image courtesy of Marcus & Millichap