Friday, August 4, 2017

Marcus & Millichap Arranges $1.65 Million Sale of 20-Unit Vista Gardens Apartments in Tampa, FL

Joshua Teplitzky

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 Vista Gardens Apartments, a 20-unit apartment property at 3809 West Iowa Avenue in Tampa, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,650,000.

Joshua Teplitzky, Francesco P. Carriera and Michael P. Regan, investment specialists 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 also secured and represented by the three brokers.
“Vista Gardens represents a transaction sold by our team twice within eleven calendar months,” says Teplitzky. 

“In a combined effort of working with the owner and putting a business plan in place, we increased the value of the underlying asset by 58% within a very short time frame,” added Teplitzky.
“The buyer acquired the property at the list price and increased his holdings within the Port Tampa submarket to over 100 units in addition with another property we sold him earlier this year,” concluded Teplitzky.

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

Ari Ravi
Regional Manager, Tampa
(813) 387-4700  

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