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| Bay Villa Place Apartments, 1403 South Bay Villa Place, Tampa, FL |
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| Casey Babb |
TAMPA, FL – Marcus & Millichap Real Estate Investment
Services, the nation’s largest real estate investment services firm, has
announced the sale of Bay Villa Place, a four-unit garden apartment
community located in Tampa, Fla., according to Richard D. Matricaria, regional
manager of the firm’s Tampa office. The asset sold for $435,000.
Casey Babb, a CCIM and senior multifamily specialist
and Ari Ravi, associate in Marcus & Millichap’s Tampa office had the
exclusive listing to market the property on behalf of the seller, a private
investor based in Maryland. Babb and
Ravi also procured and represented the buyer, a private investor from Tampa.
Bay Villa Place was built in 1926 and is located at 1403
South Bay Villa Place in Tampa, Fla.
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| Ari Ravi |
This is a newly renovated, Class “B” historic garden
apartment community located in South Tampa’s Hyde Park/SoHo submarket. Originally built in the 1920s, the property
consists of four, two-bedroom/one-bath apartment homes with hardwood floors.
Recent updates to
the building include new exterior paint, new window framing, hardscaped flower
beds and an updated kitchen.
“Hyde Park in South
Tampa is a very desirable submarket for rental apartments and we were able to
generate five offers in less than a week and went under contract with multiple
backups,” says Ravi. “The buyer paid
all cash and the transaction closed within 30 days.”
For a complete copy of the company’s news release, please
contact
Richard D. Matricaria
Regional Manager
Tampa, FL
(813) 387-4700
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