Miami-Area Multifamily Project Trades for $54M
Ralgo Group of Miami acquired the the 267-unit asset
By Jeff Ostrowski November 13, 2026 2:15 pm
reprints
A 50-year-old apartment complex in the Miami suburb of Kendall has changed hands for $53.5 million, or $200,000 per unit.
Residences at 107 Ave., led by Merco Group’s Belinda Meruelo and attorney Felix M. Caceres II of Miami Beach, sold the 267 apartments at 8520 Southwest 107th Avenue to Ralgo Group of Miami, led by Amy L. Gonzalez and Richard A. Gonzalez.
The 267-unit complex last traded for $8.5 million in 1995, according to property records.
Totaling 283,695 square feet in three stories, the apartment complex was built on the 9.2-acre site in 1972 and 1974. It includes two pools.
According to Apartments.com, units rent for $1,750 a month.
According to Cushman & Wakefield, the multifamily occupancy rate in Miami’s Kendall submarket was 94.2 percent as of mid-2026. The average monthly rent was $2,306, up 0.6 percent from a year earlier.
Recent Kendall transactions include a $65.5 million deal for 10605-10651 Hammocks Boulevard. That 264-unit deal equated to $248,000 per unit.
Jeff Ostrowski can be reached at jostrowski@commercialobserver.com.
