The Real Deal Miami

NFL player Elvis Dumervil picks up North Miami apartment building

Dumervil's Prestige Estates owns properties in North Miami, Fort Lauderdale and Oakland Park
By Amanda Rabines | July 13, 2018 01:30PM

12300 Northeast 4 Avenue and Elvis Dumervil

NFL linebacker turned investor Elvis Dumervil just picked up a multifamily building in North Miami for $6.73 million, property records show.

The 66-unit apartment building at 12300 Northeast 4th Avenue traded hands for about $102,000 per unit. The seller, Kina Investment Inc., is a Panamanian company led by Ettore Nardi. His company is tied to a Coral Gables-based property management firm, Catalonia Management. Records show Kina Investment Inc. bought the property in 1984 for nearly $2.1 million.

Built in 1971, the four-story building sits on a 1.2-acre lot, just south of northeast 125th Street. The buyer financed the deal with a $6.25 million loan from the Uniondale, New York-based multifamily finance company Arbor Realty Trust, records show.

Dumervil’s property management and development firm Prestige Estates has been busy buying and renovating a number of multifamily properties in the area. In April, his company paid $9.5 million for an apartment complex in North Miami Beach. It also owns residential and multifamily properties in Fort Lauderdale and Oakland Park.

The professional football player, who grew up in Miami’s Liberty City neighborhood, played for the Denver Broncos, the Baltimore Ravens and the San Francisco 49ers.

Just this month, Affordable Housing Development Services bought the nearby Ocean King Apartments for $13 million.