Thursday, October 18, 2018

Marcus & Millichap Brokers $11.7 Million Sale of 108-Unit Osprey Landings Apartments in Daytona Beach, FL


 

Osprey Landings, 1756 South Clyde Morris Boulevard,
Daytona Beach, FL

Michael P. Regan
DAYTONA BEACH, FL, Oct. 18, 2018 – 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 Osprey Landings, a 108-unit apartment property located in Daytona Beach, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office.

The asset sold for $11,700,000.

Francesco P. Carriera and Michael P. Regan, investment specialists 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  Carriera and Regan.

“The buyer saw an opportunity to continue a proven interior upgrade in exchange for monthly rent premiums to the tune of $270-$300,” says Mr. Regan.

Osprey Landings is a 108-unit multifamily community located in Volusia County’s Daytona Beach, Fla.

Francesco P. Carriera
The property was built in 1985 and features a unit mix of 33 percent one-bedroom/one-bathroom units with 700 rentable square feet and 67 percent two-bedroom/two-bath units with 1,000 rentable square feet.

The community amenities include a basketball court, fitness center, picnic areas, scenic lakes views, tennis court and swimming pool. 

Osprey Landings is located at 1756 South Clyde Morris Boulevard in Daytona Beach, Fla.
           
 CONTACT:

Ari Ravi
Regional Manager, Tampa
(813) 387-4700

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