Marcus & Millichap Handles $2 Million Sale of 42-Unit Eastwood Apartments in Haines City, FL

Kristin Boekhoff

Adam Bass

 HAINES CITY, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Eastwood Apartments, a 42-unit apartment property located in Haines City, FL, according to Justin W. West, regional manager of the firm’s Orlando office. The asset sold for $2,000,000.

Adam Bass, Chris Travis and Ray Turchi, investment specialists in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller, a private investor.  

Chris Travis

The buyer, a private investor, was secured by Kristin Boekhoff, a multifamily specialist on the Turchi-Travis Team. 

Eastwood Apartments is located at 25 S 22nd St in Haines City, FL.  The property, built in 1978, had rural area rent restrictions that burned off in August 2018 for a value-add component and sold at 6.03% cap rate on current net income.

Contacts:

 Justin W. West

Vice President / Regional Manager

Ray Turchi

Orlando, FL

(407) 557-3800

Ocea Huggins
Operations Manager – Orlando and Jacksonville
Marcus & Millichap 300 South Orange Avenue Suite 700 Orlando, FL 32801 (407) 557-3840 direct (407) 557-3800 main (407) 927-0313 mobile (407) 557-3810 ocea.huggins@marcusmillichap.com

www.MarcusMillichap.com.