Marcus & Millichap facilitated the sale of Renphil Apartments in Hialeah, Fla.

The 96-unit, five-story property sold for approximately $10.8 million.

Renphil Apartments is a gated community located on 1.8 acres at 6950 W. 6th Ave. The property was constructed in 1972 and total 98,800 rentable square feet. The community is comprised of 20 one-bedroom/one-bath units, 56 two-bedroom/two-bath units and 20 three-bedroom/two-bath floor plans that range from 800 square feet to 1,200 square feet. Renphil features a large lobby area, a private pool and ample parking with nearly half of the parking being covered.

Delgado Properties sold the asset to a Miami-based condo converter.

“Renphil Apartments features an excellent mix of one-, two- and three-bedroom apartments,” states Evan Kristol of Marcus & Millichap. “The property presents an excellent condo conversion opportunity in a housing market where such for-sale units are in high demand.”

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage operating nationwide.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
It's not too late to join us for Connect Now today. Participate in workshops, networking and more.REGISTER×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription