TAMPA, FL, Sept. 12, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Melrose Place (top left photo), a 22-unit vintage garden apartment community located in Tampa, Fla., according to Bryn D. Merrey (middle right photo), vice president and regional manager of the firm’s Tampa office. The sales price of $300,000 represents $23.52 per square foot.
Casey Babb (lower left photo), CCIM, a senior multifamily specialist, and Luis Baez, multifamily specialist both in Marcus & Millichap’s Tampa office had the exclusive listing to market the property on behalf of the Florida-based seller, a private investor. The listing agents also secured the buyer of the property, a private investor from Windermere, Fla. Melrose Place is located at 13624 North 15th Street. This 1960s vintage, garden apartment community is located in the University submarket of Tampa.
Units are a mix of 12 one-bedroom/one-bath housed in the main building; eight one-bedroom/one-bath housed in four duplex buildings and two two-bedroom/one-bath units in one duplex building.
“At this point in the cycle, many distressed situations have been resolved, however, there are still many that have yet to be worked out and so we expect short sales and lender forced sales like this one, to continue at a measured pace for the foreseeable future,” comments Babb.
Press Contact: Bryn D. Merrey, Vice President/Regional Manager, Tampa
(813) 387-4700
No comments:
Post a Comment