October 4, 2023 – Hernando Perez of Horvath & Tremblay has arranged the sale of two multi-family Properties, Irons Manor Flats and Parkview Flats, in North Miami, Florida. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,600,000.
Irons Manor Flats, located at 775 NE 128th Street, and Park View Flats, located at 12416 NE 12th Court in North Miami, Florida contain a total of eighteen multi-family units. Irons Manor Flats was built in 1957 and contains nine (9) residential units comprised of eight (8) 1-Bedroom/1-Bathroom units and one (1) Studio unit with 5,220 square feet living area on a 0.22-acre parcel of land. Park View Flats was built in 1958 and contains nine (9) residential units comprised of eight (8) 1-Bedroom/1-Bathroom units and one (1) Studio unit with 5,028 square feet living area on a 0.22-acre parcel of land. The units in both properties offer tenants fully equipped kitchens, tiled floors, and wall air conditioning units. Both properties also feature a private courtyard with direct entry units, and ample on-site parking for tenants and guests. The properties have been well maintained by current ownership and have completed the 40 Year Re-certification program. Both Irons Manor Flats and Park View Flats are situated in excellent locations on a residential street in the heart of North Miami. The properties are conveniently located near an appealing array of retailers, restaurants, bars, and service amenities, public transportation options, major roads and is in close proximity to major attractions and points of interest in the area including Downtown Miami, the Miami-Opa Locka Executive Airport, Miami International Airport, Championship Golf Courses, and the World-Famous Miami Beaches. The properties are positioned in between Interstate 95 and A1A in North Miami and are seconds from Dixie Highway (SR-909) and close to US Route 1, the area’s primary commercial and commuter corridors. The location offers ease of access to major retailers, employment hubs, shopping, public transportation (several bus routes and the Miami Airport Tri-Rail & Metrorail Stations), and major roads including Interstate I-95, US-1, A1A, SR-909, SR-916, and SR-924.
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.