Wednesday, December 28, 2011

Marcus & Millichap Facilitates Sale of Winsome Place in Tampa, FL for $460,000



TAMPA, FL,  Dec. 28, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Winsome Place (top left photo), a 20-unit apartment property located in Tampa, Fla., according to Bryn D. Merrey, vice president and regional manager of the firm’s Tampa office.

The sales price of $460,000 represents $23,000 per unit or $40.00 per square foot.

Michael P. Regan (middle right photo), an associate vice president investments and Francesco P. Carriera (lower left photo), a senior associate both in Marcus & Millichap’s Tampa office had the exclusive listing to market the property on behalf of the seller, a loan servicing company in Georgia.  The listing agents also secured the Florida-based buyer of the property, a private investor.

Winsome Place was built in 1988 and is located at 4299 East Sewaha Street.  This 20-unit garden-style community consists of one building with two-stories, situated on approximately .47 acres of land.

“This property consists of all one-bedroom/one-bathroom units and was approximately 50 percent occupied at the time of sale. An all-cash transaction for $23,000 per unit for a property in this submarket with all one-bedroom units is above most other recent sales that are comparable in size. The sale of this property is a good indication that the multifamily market has begun to stabilize,” comments Carriera.

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

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