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| Bayview Apartments, 442 30th Avenue North, St. Petersburg, FL |
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| Joshua Teplitzky |
ST. PETERSBURG, 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 Bayview Apartments,
a 13-unit apartment property with a single family home located in St.
Petersburg, Florida, according to Ari Ravi, regional manager of the firm’s
Tampa office. The asset sold for $875,000.
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.
Bayview Apartments is a
13-unit apartment community with one, two-bedroom/one-bathroom single family
home. The property is located just north of the heart of the rapidly developing
downtown St. Petersburg at 442 30th Avenue North.
The offering consists of
five buildings, which are comprised of five studio units with 150 to 450
rentable square feet; four, one-bedroom/one-bathroom units with 450 to 540
rentable square feet; four, one-bedroom/one-and-one-half-bathroom units with
535 rentable square feet; and one, two-bedroom/one-bathroom house with 1,180
rentable square feet.
“Bayview Apartments is in
a prime location just north of downtown St. Petersburg and adjacent to the
Fresh Market off 4th Street,” says Teplitzky. “The property piqued the interest
of several multifamily buyer types ranging from local, out-of-area and even
developers.
“Through creating an
auction environment and generating multiple offers we were able to sell the
property at list price, which equated to over $130 per square foot.”
For a complete copy of the company’s news release,
please contact:
Ari Ravi
Regional Manager
Tampa, FL
(813) 387-4700
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