Lo Gorto Apartments, Dunedin, FL
DUNEDIN, FL – Marcus & Millichap Real Estate Investment
Services, the nation’s largest real estate investment services firm, arranged
the sale of the Lo Garto Apartments, a 188-unit multifamily complex in
the Tampa Bay Area city of Dunedin, Fla. The $9.4 million sales price equates
to $50,000 per unit.
 |
| Frank Carriera |
Francesco “Frank” Carriera and Michael Regan,
vice presidents investments in the Tampa office of Marcus & Millichap,
represented the seller and the buyer.
“Lo Garto Apartments is situated in a true in-fill location
with notoriously high barriers to entry,” says Carriera. “The property’s
occupancy was stabilized at the time of sale and there is potential upside to
be gained through improved amenities and interior renovations.”
“Unusually spacious floor plans and proximity to
world-famous beaches, major employment centers and two main thoroughfares will
help ensure that demand remains high,” adds Regan.
 |
| Michael P. Regan |
Located at 257 Milwaukee Ave. in Dunedin, Fla., the property
is situated three miles north of Gulf to Bay Boulevard, which provides
residents with access to downtown Clearwater and Clearwater Beach, and
to Tampa via the Courtney Campbell Causeway.
Constructed in 1973, Lo Garto Apartments is composed of one
single-story building and six two- and three-story buildings. The unit mix features 94
one-bedroom/one-bath apartments, 82 two-bedroom/one-and-one-half-bath units and
12 two-bedroom/one-and-a-half-bath apartments. All units have central heating
and air conditioning.
Community amenities include six on-site laundry facilities,
a fitness center, a dog-walking area, picnic areas and a swimming pool.
For a complete copy of the company’s news release, please
contact:
Ben Johnson
Marketing Director
(925) 953-1736
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