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| Joshua Teplitzky |
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 Liv @ South Dale Mabry, a 48-unit
apartment community located in Tampa, Florida, according to Richard D.
Matricaria, regional manager of the firm’s Tampa office. The asset sold for
$2,500,000.
Joshua Teplitzky, associate, Cameron Barbas,
associate, Michael P. Regan, vice
president investment, and Francesco P.
Carriera, vice president investment, all in Marcus & Millichap’s Tampa
office, had the exclusive listing to market the property on behalf of the
seller, a private investor. The buyer
was secured and represented by Teplitzky, Barbas, Regan and Carriera.
Liv @ South Dale Mabry is
located within the South Tampa submarket at 3729 West Tyson Avenue, which is in
close proximity to the Westshore and Gateway business districts.
The property consists of
three, two-story buildings comprised of 36 one-bedroom/one-bathroom units with
575 rentable square feet and 12 two-bedroom/one-bathroom units with 791
rentable square feet. The buildings were constructed in 1985 and sit on a 1.35
acre parcel of land.
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| Cameron Barbas |
Amenities include an
on-site laundry facility, barbecue/picnic area and a newly renovated swimming
pool and courtyard.
“This property is located
just south of Gandy Boulevard off South Dale Mabry Highway. We have seen a
positive demographic shift in this market as some renters are getting priced
out of the Hyde Park and South Howard submarkets,” says Teplitzky.
“This progressive trend
has led to increased rents and rapidly improving property values in the
immediate submarket of the subject property, which recently received $400,000
in capital improvements and has sold three times since 2012” adds Barbas
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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