Wednesday, January 15, 2014

Marcus & Millichap Brokers $435,000 Sale of Bay Villa Place Apartments in Tampa, FL


Bay Villa Place Apartments, 1403 South Bay Villa Place, Tampa, FL

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.  

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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