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| Adam Podbelski |
TAMPA, Fla., October 2, 2014 – Marcus & Millichap (NYSE:
MMI), a leading commercial real estate investment services firm with offices
throughout the United States and Canada, announced the sale of Temple
Terrace Townhomes, a 24-unit apartment community located in Tampa, Florida,
according to Richard D. Matricaria, regional manager of the firm’s Tampa
office.
The asset sold for $1,050,000.
Adam Podbelski, associate, Michael Donaldson,
a vice president investments, and Nicholas Meoli, a senior associate,
all in Marcus & Millichap’s Tampa office, represented both parties in the
transaction.
Temple Terrace Townhomes is located at 10212 North Ojus
Drive in Tampa, Florida. Built in 1980,
the complex consists of 12 two-story duplexes constructed of concrete block on
the first floor and wood frame on the second floor.
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| Michael Donaldson |
The property is
comprised in total of 24, two-bedroom/one-bath townhome units with
approximately 848 rentable square feet.
Sitting collectively on approximately 0.84 acres, eight of the duplexes
are individually parceled, while the remaining four are contained on two
parcels.
The buildings boast
private patios/porches for each unit.
Additional amenities include central air-conditioning and washer and
dryer connections in all units.
“This asset offered significant upside through both
management efficiency and rental increases,” says Podbelski. “Coupled with its desirable location in the
University submarket of Tampa, we were able to generate substantial interest
from both local and out-of-area buyers, ultimately allowing us to close within
60 days of the executed contract.”
For a complete copy of the company’s news release, please
contact:
Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL
(813) 387-4700
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