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Jax Daily Record Tuesday, Mar. 24, 202010:00 AM EST

Pembroke Park real estate group buys Monroe Manor

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The investor paid $2.45 million for the West Jacksonville apartments.

A Pembroke Park-based real estate investment firm bought 41 multifamily units comprising 18 single-family, duplex and triplex properties for $2.45 million March 20.

SamChez CM 41 Jacksonville LLC paid $59,756 per unit for the Monroe Manor property south of Ramona Boulevard, between Gillen Street and Ellis Road South, in the Normandy area of West Jacksonville.

The seller, Sunrise-based Monroe Manor LLC managed by real estate investment company Figtree Investments Group, bought the properties in 2015 for $1.4 million, or $34,146 per unit.

Colliers International reported in its year-end 2019 Jacksonville multifamily market report that the average sales price per unit was $104,000.

The buildings were constructed between 1939 and 1981.

SamChez CM 41 Jacksonville LLC is managed by Sam Jazayri and Rene Sanchez of Pembroke Park and Concession Management LLC of Miami.

SamChez CM 41 Jacksonville LLC secured a $2.45 million mortgage from SamJat 41 JAX LLC of Pembroke Park.

Steven McAdoo, associate director of Multifamily Investment Sales at Prime Realty Commercial Real Estate, represented the buyer and seller in the off-market transaction.

 

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