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| Dupree Gardens, 22156 Dupree Drive, Land O Lakes, FL |
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| Miles Tombrink |
LAND O LAKES, FL – Marcus & Millichap (NYSE: MMI), a leading
commercial real estate investment services firm with offices throughout the
United States and Canada, has announced the sale of Dupree Gardens, a 9-unit
residential community located in Land O Lakes, Fla., according to Grant
Fitzgerald, sales manager of the firm’s Tampa office. The asset sold for
$1,400,000.
Miles Tombrink, Casey Babb, CCIM, Luis Baez, CCIM and Shawn Rupp, 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 limited liability company, was also secured and represented by the same brokers.
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| Casey Babb |
“Through our national marketing platform, we were able to secure an all-cash buyer out of New York who was able to close within 34 days of going to contract.
The buyer fell in love with the uniqueness of the community and opportunity to steadily increase the cash-flow through rental increases,” said Tombrink.
Dupree Gardens is located at 22156 Dupree Drive in Land O Lakes, Fla. The property is a majority 2000's, single-family residential community in Land O Lakes, Fla.
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| Luis Baez |
Located minutes away from major demand drivers and points of interest. Dupree Gardens consists of 9 individual Key West style bungalows and offers investors the opportunity to own a turn-key investment portfolio in a growing submarket with significant upside in rental rates or individual sales of each home.
Each home is constructed of concrete block construction with a metal roof. Homes consist of three-bedroom/two-bathroom units averaging 1,288 square feet.
Tenants are afforded some of the best amenities for like-kind rentals as the property includes a swimming pool, hot tub, nature walk, and lake accessibility.
Every bungalow comes with washer/dryer in-unit and stainless-steel appliances, while most units have garage parking and private patios.
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| Shawn Rupp |
Dupree Gardens is conveniently located on Dupree Drive and Eden Lane, a secluded lakefront community.
The property offers residents a peaceful neighborhood while giving them easy access to US-41, a major North-South thoroughfare connecting Land O Lakes to Tampa.
Major points of interest in proximity to Dupree Gardens include Busch Gardens (14.12 miles), University of South Florida (14.19 miles), Tampa International Airport (18.31 miles) and the Westshore Mall (20.81 miles).
CONTACT:
Whitney Davis
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Marketing Coordinator
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Marcus & Millichap
201 North Franklin St.
Suite 1100
Tampa, FL 33602
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