Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Dania Heights, a 21-unit apartment property in Dania Beach, Florida, for $4,475,000.
“The sale of Dania Heights speaks to the demand for quality turn-key multifamily assets in rapidly growing markets of South Florida. This was a rare opportunity to acquire a fully renovated, turnkey asset in the heart of Dania Beach,” said Austin Michels, associate. “With strong interest from both local and out-of-state investors, we received over 10 offers and ultimately closed with a New York-based private buyer. The combination of updated interiors, a strategic location just north of Sheridan Street and west of Federal Highway, and attractive seller financing made this an especially compelling deal at $4,475,000 — or $213,095 per unit and $328 per square foot.”
Michels, along with Brandon Rex, Nicholas McAndrew, Evan P. Kristol and Felipe Echarte, investment specialists in Marcus & Millichap’s Fort Lauderdale office, represented the seller
in the transaction.
Built in 1970, Dania Heights is a two-story, garden-style apartment building located at 37 SW 14th Street. The unit mix includes one-, two- and three-bedroom layouts, each renovated with updated kitchens, bathrooms and modern finishes. The sale also included a contiguous single-family home at 25 SW 14th Street. The property is minutes from Fort Lauderdale-Hollywood International Airport, Port Everglades, Dania Pointe and the Casino at Dania Beach.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
