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| Felicia Villa Apartments, 4711 North Grady Avenue, Tampa, FL |
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| Joshua Teplitzky |
TAMPA, FL, Dec. 11, 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 Felicia
Villa Apartments, a 21-unit apartment property located in Tampa, Fla.,
according to Richard D. Matricaria, regional manager of the firm’s Tampa
office. The asset sold for $867,000.
Joshua Teplitzky, associate and Michael P. Regan
and Francesco P. Carriera, vice presidents investments all in Marcus
& Millichap’s Tampa office, represented both parties in the transaction.
Felicia Villa Apartments is located at 4711 North Grady
Avenue in Tampa, Fla. The property
consists of one, two-story building with 21, one-bedroom/one bathroom
units.
Common area renovations include a new security system, fresh
exterior building paint, new windows, new landscaping and new roofs. The interiors of 19 of the units were
upgraded with carpet and tile, with renovated countertops and new
appliances.
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| Francesco Carriera |
"This property is located just outside of the Westshore
Business District in Tampa with easy access to major employment centers,” says
Teplitzky. “We drove three offers in
the two weeks of marketing and commanded a lot of interest from local, as well
as out-of-area investors.
“The property traded above a 10 percent capitalization rate
which was the main catalyst for the quick sale.”
For a complete copy
of the company’s news release, please contact:
Richard D.
Matricaria
Vice President/Regional Manager
Tampa, FL
(813) 387-4700
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