Thursday, August 2, 2012

Prices For Well Located Older Apartments Inches Up!


ORLANDO, FL – Smith Equities Real Estate Investment Advisors (SEREIA) has closed on a 16 unit multifamily property (top left photo) located in Longwood Florida.

Robert E. Smith (middle right photo), CCIM and Derek Smith (lower left photo), both of Smith Equities Real Estate Investment Advisors, exclusively listed and marketed the 16-unit apartment property.

Mark Raponi, of Resource Realty Services, Inc. represented the buyer in this transaction. “The single story buildings are in an excellent location. With all the major capital improvements planned by the Purchaser, the property will achieve a brand new feel.“ said Raponi

“Our Philosophy is simple: We use our experience and tools, developed within the multifamily industry, to help our customers get what they’re looking for in any deal,” explained SEREIA president Robert E. Smith, CCIM. “We thrive in the multifamily industry because we have the experience and knowledge of what it takes to get deals done.”

KIWI Apartments was originally built in 1970 and consists of four well-built concrete block, single story four-unit buildings which were 81% occupied at the time of closing. It was purchased in cash for $620,000 ($38,750 per unit). All 16 units are 2 bedrooms 1 bathroom 945 SF with identical floor plans.

“It is encouraging to know that we were an integral part in helping both sides come to a successful conclusion on this deal,” stated Derek Smith, the newest member of Smith Equities Real Estate Investment Advisors. “This result is what drives our passion in the industry; this is what makes this business so much fun.”


Robert E. Smith, CCIM, Broker
Ph: (407) 422-0704 ext. 101
Cell: (407) 496-8575

Derek Smith
Broker Associate
Ph: (407) 422-0704 ext. 112
Cell: (321) 230-2599

Smith Equities Real Estate Investment Advisors
350 East Pine St
Orlando, Fl 32801


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