MIAMI—Smaller multifamily properties continue seeing traction with investors looking for a safe place to park their money in growth-oriented South Florida. The latest to trade hands is Continental West Apartments.

Franklin Street's Deme Mekras, Elliot Shainberg, and David Reinke represented the seller and buyer, both local investors, on the sale of a 36-unit multifamily building in North Miami, FL. The sale price was for $2.393 million, representing $115 per square foot. The multifamily complex is 100% leased at the time of the sale.

“With the recent upgrades, this property stands out in a mostly older neighborhood,” Shainberg tells GlobeSt.com. “That, combined with the fact that it is located very close to shopping and public transportation, made it very appealing to our buyer.”