Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the $3.6 million sale of Walker Apartments, a five-building, 18-unit multifamily portfolio in Miami, Florida.
“Due to our marketing efforts over the last couple of months, we were able to achieve market-topping pricing during uncertain times,” said Nicholas McAndrew, director of investments. “Contrary to all the headlines regarding wars, U.S. credit risk, tariffs and other market turbulence, we created a competitive environment and secured a buyer who closed in a compressed timeframe.”
Built in 1960, Walker Apartments is located at 14330, 14400, 14410, 14420 and 14430 NE 5th Place on a 1.19-acre lot. The unit mix comprises one- and three-bedroom apartments, with an average unit size of 800 square feet. Amenities include front porches and patios.
The property is positioned just west of North Miami and NE 6th Avenue, offering residents convenient access to nearby retail, higher education, and major employment centers, including Barry University, Florida International University’s Biscayne Bay Campus, Jackson North Medical Center, and HCA Florida Aventura Hospital. Recent capital improvements at the property include four new roofs installed within the last five years.
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.
