Marcus & Millichap Arranges Sale of 10-Unit Apartment Community in Pinellas Park, FL for $515,000

  

76th Avenue Apartments, 4089 76th Avenue North, Pinellas Park, FL

James Vestal

PINELLAS PARK, FL,  Nov. 27, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of 76th Avenue Apartments, a 10-unit apartment community located in Pinellas Park, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $515,000.

James Vestal, an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor from Texas.  Vestal also procured and represented the buyer of the property, a Florida-based partnership.

76th Avenue Apartments was built in 1986 and is located at 4089 76th Avenue North in Pinellas Park, Fla.  The property sits on approximately .71 acres of land and consists of four, two-story buildings. 

There are six, two-bedroom/one and a half-bathroom townhome units with 960 rentable square feet and four two-bedroom/one and a half-bathroom townhome units with 1,202 rentable square feet.

Property amenities include full-size washer and dryer hook-ups in each unit and ample parking. 

“The 76th Avenue Apartments reflects how small sub-markets in Pinellas are rebounding around impressive rent growth and lower vacancy,” says Vestal.   “Investors are continuing to show demand for assets in good areas.”

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

 Richard D. Matricaria

Regional Manager

 Tampa, FL

(813) 387-4700