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| Joseph P. Thomas |
FORT LAUDERDALE, FL, July 23, 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 1492 Holly Heights Drive, a 13-unit apartment property located in
Fort Lauderdale, Fla., according to Ryan Nee, regional manager of the firm’s
Fort Lauderdale office.
The asset sold for $1,325,000, equating to
$101,923 per unit.
Joseph P. Thomas, a vice president investments, Adam
Duncan, a senior associate, and Derek
Soven, an associate, in Marcus & Millichap’s Fort Lauderdale office
represented the seller, a limited liability company from New York, and the
buyer, a private investor from Boca Raton, Fla.
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| Adam Duncan |
The property was previously renovated to condominium standards and has a beautiful gated courtyard with a swimming pool and patio,” says Duncan.
“We were able to
achieve a selling price of more than $100,000 per unit because of the
property’s condition and large floorplans, which offer further rental upside,”
says Soven.
1492 Holly Heights Drive
is a 13-unit apartment community built in 1981.
The property consists of 10 one-bedroom/one-bathroom units, one
one-bedroom/one-bathroom loft, one two-bedroom/two-bathroom unit and one
three-bedroom/two-bathroom unit.
For a complete copy of the company’s news release,
please contact:
Ryan Nee
Regional Manager, Fort
Lauderdale
(954) 245-3400
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