$850,000 apartment building sale in Tampa, FL arranged by marcus & millichap

  

129 Danube Avenue Apartments, Tampa, FL

Michael P. Regan

TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of an eight unit apartment property located in Tampa, Fla, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

 The $850,000 sales price equates to $106,250 per unit.

Michael Regan and Francesco “Frank” Carriera, vice president investments, along with Cameron Barbas, associate in Marcus & Millichap’s Tampa office, represented the seller and the buyer.

Originally built in 1972, and located at 129 Danube Avenue in Tampa, Florida, Danube Avenue Apartments consists of one, one-story building and two, two-story buildings. 

The buildings are comprised of a mix of one and two-bedroom units.  The two, two-story buildings have central heat and air-conditioning systems and the unit in the one-story building has an individual heat and air conditioning unit.

Francesco Carriera

 All units have tile or hardwood floors and the interior of three of the units have been upgraded with granite countertops.

            “Due to the A+ location of the property and tremendous upside in rents, this listing was on the market for less than one week before it went under contract,” says Barbas. 

“This transaction is a testament to how ‘hot’ the multifamily market truly is when the asset is priced correctly - we generated nine showings in the first three days of marketing, prior to going to contract and received multiple offers,” adds Barbas. 

  “We began the marketing process on January 5th and the property closed by January 20th.”

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

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700