Franklin Street has arranged the sale of The Mahalo Isles, a 20-unit, waterfront multifamily in Fort Lauderdale’s Harbordale submarket, for $6.8 million. The pricing — according to the company considered top of market for a 1970s-era property — equates to $340,000 per unit and $512 per square foot.
Franklin Street’s South Florida multifamily investment sales team of Ryan Wold, Dan Dratch and Greg Matus represented the seller, EGA Holdings, LLC, in the transaction. The buyer is Cochise Capital.
“The Mahalo Isles enjoys an irreplaceable waterfront location in one of South Florida’s most sought-after submarkets, making it a prime value-add opportunity,” said Wold. “Cochise Capital has an excellent opportunity to grow rents through continuing the renovations started by the previous owner.”