Marcus & Millichap Sells 24-Unit Apartment Building in Tampa, FL

TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of La Hacienda Apartments, (bottom left photo) a 24-unit apartment property located in Tampa, FL, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $500,000.

Evan P. Kristol, Senior Vice President Investments and Still Hunter, III, First Vice President Investments, of Marcus & Millichap’s Ft. Lauderdale office and Francesco Carriera, (top right photo) an Investment Specialist in the firm’s Tampa office had the exclusive listing to market the property on behalf of the seller, a bank/financial institution.

The buyer, a limited liability company, was secured and represented by Francesco Carriera and Nick Meoli, Investment Specialists in the firm’s Tampa office.

“This lender-owned property was approximately 50 percent occupied and had significant deferred maintenance. Several units had missing appliances and needed renovation in order for them to be rent-ready. There were multiple offers on the offering, several of which were in an all-cash position” states Carriera.

“The property sold to a local buyer who was looking for an add value opportunity to add to his portfolio. After several weeks of marketing and a best and final request, the best bidder agreed to pay $500,000 in cash and put up a $75,000 non-refundable deposit with an executed contract.

The buyer closed on the property within 30 days from the effective date” added Carriera.

La Hacienda Apartments is a 24-unit apartment community located at 1503-1515 East 140th Avenue in Tampa, Florida.

Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700