$2.05 million buys 132 units in Tampa, FL

 TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Marbella Apartments (top left photo), a 132-unit, 116,880-square foot multifamily property in Tampa, Fla, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

 The sales price of $2,050,000 equates to $15,530 per unit and $17.54 per square foot.

Michael P. Regan (middle right photo), an associate vice president investments, Francesco P. Carriera (lower  left photo), senior associate and Nicholas Meoli,  associate, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a Florida-based partnership and the buyer, a private investor. 

Marbella Apartments is located at 12406 North 15th Street.  Built in 1977, the property consists of 96 one-bedroom/one bath units and 36 two-bedroom/two-bath units.  The units are very spacious, and property amenities include a laundry facility, high speed internet access, frost-free refrigerators, ceiling fans and dishwashers.

“This property represents a trend we have seen over the past three to four months with out-of-state investors entering back into the Florida multifamily market,” says Meoli.

“We were able to command 12 offers in less than 60 days, including several from foreign investors.  Ultimately, we negotiated a contract with 10 days due diligence and closed within 30 days,” adds Meoli.         

Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700