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| Josh Teplitzky |
SEMINOLE, FL -– Marcus
& Millichap (NYSE: MMI), a leading commercial real estate investment
services firm with offices throughout the United States and Canada, announced
the sale of Seminole Village, a
56-unit apartment property located in Seminole, Florida, according to Ari Ravi, regional manager of the
firm’s Tampa office. The asset sold for $4,070,000.
“Seminole Village was part of a
two-property portfolio in which the buyer assumed the current loan on the 56
units located in mid-Pinellas County,” says
Josh Teplitzky, associate in the Marcus & Millichap’s Tampa office.
“Both the buyer and the
seller were based out of California, and the property appealed to the buyer due
to the all two-bedroom composition as well as it being a 1980’s vintage asset.
The buyer plans to raise the rents approximately $200 per floor plan due to the
limited competition in Seminole.”
Teplitzky, along with Francesco P. Carriera and Michael P. Regan,
both first vice president investments also in the firm’s Tampa office, had the
exclusive listing to market the property the seller’s behalf and procured the
buyer.
Seminole Village is a
56-unit multifamily community located at 7770 Starkey Road in Seminole,
Florida. The property was constructed in 1984 and has four, two-story buildings
on an approximately 3.48 acre parcel of land. The property consists entirely of
two-bedroom/one-bathroom units with 950 to 1,120 rentable square feet.
Amenities include ample on-site parking, on-site laundry facilities and central
air-conditioning.
For a complete copy of the company’s news release,
please contact:
Ari Ravi
Regional Manager, Tampa
(813) 387-4700
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