Nine Florida Apartment Units Sell for $370,150

Michael P. Regan

DUNEDIN, FL,  March 18, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of James Street Apartments, a nine unit apartment community located in Dunedin, Florida, according to Richard D. Matricaria, Regional Manager of the firm’s Tampa office.

 The asset commanded a sales price of $370,150.

Michael P. Regan and Francesco P. Carriera, vice president investments and James Vestal, investment specialist in Marcus & Millichap’s Tampa office, represented both the seller and the buyer, private investors based in Florida.

Francesco P.
Carriera

Built in 1959, James Street Apartments is located at 442 James Street in Dunedin, Florida.  The property is located within walking distance of downtown Dunedin and is situated in a Class “A” rental market. James Street Apartments consists of three, one and two-story buildings situated on approximately a .56-acre parcel of land.

 All units have individual air-conditioning.  Amenities include an on-site laundry facility and ample on-site parking.

“This transaction represents the waning supply of distressed assets on the market,” says Vestal.  “As we head into a more normalized market, opportunities like this will become fewer and farther between and I think the buyers really recognized that.”

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

Richard D. Matricaria

Regional Manager,

Tampa

(813) 387-4700