Marcus & Millichap Arranges the Sale of a 4-Unit Apartment Building
TAMPA, FLORIDA, April 18, 2017 – 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 Bay Villa, a 4-unit apartment property located in Tampa, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $660,000.
Casey Babb, 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 private investor, was secured and represented by Shawn Rupp and Casey Babb, CCIM, investment specialists in Marcus & Millichap’s Tampa office.
“This property was located in one of the highest rent streets in the Class A market of South Tampa. This sale marks the 16th apartment transaction our team has traded in South Tampa in the last 18 months,” says Shawn Rupp, Associate in Marcus & Millichap’s Tampa office.
Bay Villa is located at 1403 South Bay Villa Place in Tampa, Florida. The property is a four unit, 1920’s vintage, Class B apartment community located in the Class A submarket of Hyde Park in South Tampa just off of South Howard Avenue and less than two blocks north of Bayshore Boulevard. Units are housed within a single two-story, wood frame building which sits on a 0.11 acre lot featuring mature landscaping, on-street parking and a large shaded back yard which would be perfect for additional common area amenities.
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About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com