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| Joshua Teplitzky |
NEW PORT
RICHEY, FL, June 9, 2015 – 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 Alma Street Apartments, a
6-unit apartment property located in New Port Richey, FL, according to Richard
D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for
$208,000.
Joshua Teplitzky, Associate, Francesco P. Carriera, Vice President Investments, and Michael P. Regan, Vice President
Investments in Marcus & Millichap’s Tampa office, had the exclusive listing
to market the property on behalf of the seller, a group of private
investors.
Alma Street
Apartments is located at 4615 Alma Street in New Port Richey, FL. The property consists
of all two-bedroom/one-bathroom units with 800 rentable square feet. Amenities
include central heat and air-conditioning and an on-site laundry facility.
"We
received multiple offers on this property, located one block west of U.S.
Highway 19 in New Port Richey,” says Teplitzky.
“The capitalization rate was over 10 percent and the new owner plans to
increase the rents by approximately $75 on each floor plan,” added Teplitzky.
“The buyer was a local investor and plans to capitalize on the month to month
leases in place,” concluded Teplitzky.
For a complete copy of the company’s
news release, please contact:
Richard D.
Matricaria
Vice
President/Regional Manager, Tampa
(813)
387-4700
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