DUNEDIN, Fla., November 27, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of San Christopher Apartments, a five-unit apartment property located in Dunedin, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $316,000.
James Vestal, associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor based in Wisconsin. The buyer, a local private investor, was secured and represented by Michael Donaldson and Nicholas Meoli, senior associates in the firm’s Tampa office, and Earle Hyman, senior vice president investments in Marcus & Millichap’s Encino office.
San Christopher Apartments is located at 784 San Christopher Drive in Dunedin, Fla. This five-unit apartment community was built in 1973 and consists of one, two-story building. The building is comprised of four one-bedroom/one-bathroom units with 680 rentable square feet and one two-bedroom/two-bathroom townhome unit with 1,350 rentable square feet.
Amenities of the property include; condo-grade finishes such as, glass top ranges with microwaves, stainless steel dishwashers and refrigerators, wood floors and stone tiling in the bathrooms. There is ample parking and large rear porch areas.
“San Christopher mirrored the continuing strength that the Dunedin sub-market has been seeing since the beginning of the year,” says Vestal. “This property showed the continuing demand for turnkey properties with strong rents in good areas.”
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With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.