Miami River Multifamily Asset Trades

Melo Real Estate President and CEO Frank Rodriguez Melo, CCIM represented the buyer in the sale of River Villas, a multifamily asset situated on one acre at 2222 & 2260 NW North River Drive on the Miami River.

The two 2-story, garden-style apartment buildings traded for $3,250,000 on July 17.
“The property offers a huge opportunity for growth and repositioning as the Miami urban core expands and interest in assets fronting Miami River continues,” commented Melo.
The two multifamily buildings, which total 11,606 square feet, were built in 1960 and 1961 and offer 600 linear feet of direct river frontage.

Due to a confidentiality clause, the buyer has not been disclosed.
The seller, Manuel Rodriguez, was represented by James “Chip” Black with The Huttoe Group/Berkshire Hathaway.

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