Kurz Real Estate’s Erick Vargas Represented the Buyer in the Sale of 1960s Family-Owned Rental Property Portfolio

Kurz Real Estate Corp. Broker-Associate Erick Vargas represented the buyer who closed this week on a portfolio of 35 separate parcels throughout South Dade.

Abiel Ballesteros, a local real estate investor specializing in multi-family properties purchased the entire portfolio for $4,125,000. Consisting of 34 duplexes and 1 single family home, the portfolio had been family-owned since the 1960s. All of the duplexes were built and kept by the original owners for rental purposes.

“You don’t find deals like this anymore, where the entire portfolio is owned and maintained by the same family for such a long time. I was able to negotiate an amazing deal for the buyer who is looking forward to keeping them for a few decades to come as well. It’s the type of deal where everybody wins,” said Vargas.

The seller who was represented by ONE Commercial Real Estate’s Robinson Seda, Jr. and Eddie Gil, chose to remain anonymous.

Kurz Real Estate, which launched in August of 2016 now occupies 6,000 sq. feet of fresh, innovative office space in Coconut Grove and is on track to achieving its goal of 100 agents in its first year of business.