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| Shawn Rupp |
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 The Dos Santos Portfolio, an eight-unit apartment portfolio located in
Tampa, Florida, according to Richard D. Matricaria, regional manager of the
firm’s Tampa office. The asset sold for $950,000.
Shawn Rupp,
associate, Luis Baez, senior
associate, and Casey Babb, CCIM and
vice president investments, 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, a limited liability
company, was also secured and represented by the three brokers.
“The seller of the Dos
Santos Portfolio had unsuccessfully put the property under contract with
several buyers through several other agents prior to our team taking the
assignment,” says Rupp.
“Not only was our team able to successfully close in 30
days, but we were also able to achieve a price of $20,000 more per unit than
the seller’s previous contract.”
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| Luis Baez |
“This property has almost
unlimited upside potential for the buyer, who plans to completely renovated
both the interior and exterior of the portfolio,” Rupp continues.
The Dos Santos Portfolio
is a two-property portfolio located at 3104 West San Juan Street and 3402 West
San Pedro in the Palma Ceia submarket of South Tampa, just south of Bay to Bay
Boulevard and just west of Bayshore Boulevard.
The portfolio consists of two,
one-bedroom/one-bathroom apartments, two, one-bedroom/one-bathroom apartments
with a den and four, two-bedroom/one-bathroom apartments. The apartments range
in size from approximately 648 to 790 rentable square feet.
The average household
income within a one-mile radius of the Dos Santos Portfolio is $112,687, which
is more than double the national average. Palma Ceia is arguably one of the
strongest rental submarkets in the entire Tampa Bay region.
It is a haven for
young professionals and offers ease of access to major employment centers in
downtown Tampa and the Westshore Business District, as well as shopping, dining
and entertainment.
For a complete copy of the company’s news release,
please contact:
Richard D. Matricaria
First Vice President /
Regional Manager
Tampa, FL
(813) 387-4700
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