 |
| Joshua Teplitzky |
TAMPA, FL – 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 Iowa Court Apartments, a 20-unit apartment property located in
Tampa, Florida, according to Ari Ravi, regional manager of the firm’s Tampa
office. The asset sold for $1,045,000.
Joshua Teplitzky, senior associate, Francesco P.
Carriera and Michael P. Regan,
both first 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
private investor, was also secured and represented by Teplitzky, Carriera and
Regan.
Iowa Court Apartments is a
20-unit multifamily community located at 3809 West Iowa Street in Tampa,
Florida.
The property consists of one, two-story residential building. The
residential building is comprised of 20 one-bedroom/one-bathroom units with 625
rentable square feet. All units have individual heating and air-conditioning,
and the building sits on an approximately 0.48 acre parcel of land.
“This property represents
another one of our most recent transactions in South Tampa within close
proximity to the Macdill Air Force Base. The total revenue in this immediate
submarket has risen almost 20 percent year over year due to a large number of
communities trading hands to foreign investors recently,” says Teplitzky.
“Iowa Court was a
significant value-add opportunity and the buyer plans to make substantial
immediate capital investment to the asset on both the interior and the
exterior,” Teplitzky concluded.
For a complete copy of the company’s news release,
please contact:
Ari Ravi
Regional Manager, Tampa
(813) 387-4700
No comments:
Post a Comment