• Marcus & Millichap Arranges the Sale of a 39 Space Manufactured Home Community

    HUDSON, Florida, May 8, 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 Gulf Breeze, a 39 space senior (55+) manufactured home community in Hudson, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $550,000.

    Sebastian Harris, associate, and Dan Mulkey, first vice president investments in Marcus & Millichap’s Tampa office, had the approval to market the property on behalf of the Seller, a private, out of state investor.  The buyer, also secured by Harris and Mulkey, is a private investor from Tampa having many years of experience in dealing with multi-family investment properties.

    Sebastian Harris said, “The Buyer was looking for just this sort of a property. One having a good income base but offering good upside in the back filling of vacant sites increasing the income stream.”  Dan Mulkey commented, “It is the perfect property for someone willing to invest cash into retrofitting a park to get the most from the investment.  It will be very appealing to senior citizens on a budget looking to secure a nice home in a great neighborhood at an affordable price.”

    Gulf Breeze is located at 7530 Maryland Avenue in Hudson, Florida.  This 39 space community consists of predominantly singlewide homes.  Of the 39 sites 10 are vacant providing the upside potential looking forward.  The park is serviced by public utilities.

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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