The Real Deal Miami

South Dade rentals sell for over $4 million

The portfolio of 34 duplexes and 1 house had been family-owned since the 1960s

Erick Vargas

Real estate investor Abiel Ballestros paid $4.125 million for a portfolio of 35 parcels in south Miami-Dade County.

Ballestros bought 34 duplexes and one house that had been family-owned since the 1960s. The family that sold the portfolio built the duplexes and operated them as rentals, a practice Ballestros intends to continue.

Robinson Seda Jr.

Kurz Real Estate Corp. broker-associate Erick Vargas represented Ballestros, a local investor who specializes in multifamily properties.

Robinson Seda Jr. and Eddie Gil of ONE Commercial Real Estate represented the seller of the South Dade portfolio, who chose to remain anonymous.