Miami—Two multifamily complexes just traded hands—and they represent the highest per-unit sales price for original 1920s construction in the Miami submarket of Auburndale-Little Havana. The eight-unit multifamily assets traded for $1.449, or $90,562 per unit, on Auction.com. The auction had nine registered bidders.

Located at 2741 and 2749 Southwest 5th Street, the multifamily assets were originally constructed in 1925 and 1927. Juan C. Alarcon, a local investor represented by Luis Osio of Oasis International Realty Group, acquired the assets. Manuel Cruz sold the multifamily properties.

"Submarkets such as this one in Miami present a great investment opportunity as rental rates continue to rise," Joe Cuomo, senior vice president of business development at Auction.com, tells GlobeSt.com. "With large population influxes, cities such as Miami in the Southeast are currently among the nation's top multifamily markets, and a submarket like Auburndale-Little Havana, in particular, has the ability to attract many interested multifamily buyers."