Wednesday, April 6, 2016

Four-Unit Stroud Apartments in Tampa, FL Sold for $315,000 in Deal Brokered by Marcus & Millichap

Casey Babb
TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Stroud Apartments, a four-unit apartment building located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $315,000.

Shawn Rupp, associate, Luis Baez, senior associate, and Casey Babb, CCIM and vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was secured and represented by the three brokers.

The Stroud Apartments is a four-unit apartment property located within the Class “A” Hyde Park submarket of South Tampa at 2415 West Stroud Avenue. 

Luis Baez
Originally built in 1924, the property consists of two-bedroom/one-bathroom apartments home, which average 850 square feet and feature private entrances, high ceilings, central HVAC and ample parking.

 The units are housed in a two-story, garden apartment building with stucco exteriors and a flat roof. Hyde Park is one of the strongest rental submarkets in the Tampa Bay region and its central location is a haven for young professionals and early families due to its walkability, safety and favorable school districts.

“This was a rare opportunity in Tampa’s strongest submarket to restore a structurally unsound building and highly distressed building into a future high-rent property,” says Rupp.

For a complete copy of the company’s news release, please contact:

Richard D. Matricaria
First Vice President / Regional Manager
 Tampa, FL

(813) 387-4700

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