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| Inca Drive Apartments, Tampa, FL |
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| Francesco Carriera |
TAMPA, FL, April 25, 2014 – Marcus & Millichap (NYSE:
MMI), a leading commercial real estate investment services firm with offices
throughout the United States and Canada, today announced the sale of Inca
Drive Apartments, an eight-unit apartment community located in Tampa,
Florida, according to Richard D. Matricaria, regional manager of the firm’s
Tampa office.
The asset sold for $395,000.
Francesco Carriera and Michael Regan, vice
presidents investments and Joshua Teplitzky, investment specialist in Marcus
& Millichap’s Tampa office, had the exclusive listing to market the
property on behalf of the local seller, a private investor.
The listing agents also procured the buyer of the property,
a private investor based in Brandon, Florida.
Inca Drive Apartments were built in 1972 and are located at
8602 Inca Drive in Tampa, Florida. The
property consists of four, one-story buildings situated on approximately 1.46
acres of land.
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| Michael Regan |
The buildings are comprised of eight,
two-bedroom/one-bathroom units with 800 rentable square feet. Most of the interiors of the units have been
renovated with vinyl tile flooring or ceramic tile. The roofs on all buildings
were replaced in 2013. Amenities
include washer and dryer connections in all units.
“This property was an off-market transaction,” says
Teplitzky. “The property was attractive to the buyer since it was completely
renovated within the last 18 months and the rents were under market by
approximately $100.”
“There was also over half an acre of developable land included
in the sale,” adds Teplitzky.
For a complete copy of the company’s news release, please
contact:
Richard D. Matricaria
Regional Manager
Tampa, FL
(813) 387-4700
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