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Steelblock buys Opa-locka apartment complex for $8M
Seller bought the building in 2017 for $5M
UPDATED, Oct. 27, 1:45 p.m.: A Miami-based real estate investment company bought a 72-unit low-income housing building in Opa-locka for $8.2 million.
A company tied to Ignacio Murman, CEO of Steelblock, bought the building at 13300 Alexandria Drive, according to a press release.
At $120,833 a unit, it is the highest price-per-unit sale in the history of Opa-locka, according to the release. The previous record was $110,000 a unit.
A company tied to Jorge “Ariel” Lopez of the Lopez Companies sold the building. The Lopez Companies previously bought the building in 2017 for $5 million, according to records. The building has 66,000 square feet and was built in 1972.
Available units include a 691-square-foot, two-bedroom, one-bath apartment renting for $1,250 per month; and a 1,025-square-foot, three-bedroom, one-bath apartment renting for $1,500, according to an online listing.
Tomas Sulichin, president of the commercial real estate division RelatedISG International Realty that launched in September, represented the buyer. He said the buyer plans to continue looking for multifamily investments in the area and has plans to improve the Opa-locka property inside and outside the building.
In January, Steelblock bought another Opa-locka building for the same price. The 118-unit complex at 14255 to 14460 Northwest 22nd Avenue sold for $70,000 per unit.
Other recent multifamily deals in South Florida include $13 million for the 66-unit Hilton Estates buildings in Hialeah, and $67.5 million for a 218-unit development in Fort Lauderdale’s Flagler Village.