A roof replacement was completed in 2025.
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the $12 million sale of Montego Bay Apartments, a 45-unit multifamily property in Hialeah, Florida.
“Originally constructed as a rental community, Montego Bay was converted to condominiums during South Florida’s early-2000s conversion cycle,” said Evan P. Kristol, executive managing director investments. “Over time, the individual units were acquired and the property was reassembled as a rental asset. Today, it offers a mix of one-, two- and three-bedroom residences with covered parking in an established Hialeah submarket.”
Kristol along with Felipe Echarte, investment specialists in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a private partnership and procured the buyer, an investment group.
The four-story property was built in 1972 and sits on a 0.73-acre site. Located in northern Hialeah, just south of Miami Lakes, the property offers access to the Palmetto Expressway and Interstate 75 and is near neighborhood retail, public schools, parks and Miami International Airport.
Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end.
