The Real Deal Miami

J. Milton transfers ownership of Broward apartments for $22M

7.3-acre site includes eight apartment buildings, playground, pool and picnic areas
By Katherine Kallergis | June 22, 2015 03:45PM

Inverrary 441 Apartments and Joe Milton

Inverrary 441 Apartments and Joe Milton

Ownership of a 324-unit apartment complex in Lauderhill changed hands for $21.75 million, according to Broward County records.

A trust tied to Coral Gables-based J. Milton & Associates sold the complex to Joseph Milton, Cecil Milton and Frank Milton. The 7.3-acre site includes eight apartment buildings and a main office.

The recently renovated one and two-bedroom apartments range from 750 square feet to 1,100 square feet. Rents range from $875 to $1,175, according to the complex’s website.

Inverrary 441 Apartments, at 1196 North 40th Avenue, features a pool, playground, barbecue and picnic areas, elevators and a paved parking lot surrounding the buildings. The development last sold in 1998 for an undisclosed amount, according to Broward County property records.

J. Milton & Associates is a real estate development company with condo and rental properties in Sunny Isles Beach, Blue Lagoon and Miami, among other cities.