ST. PETERSBURG, FL, November 17, 2016 – 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 Villa Plumosa Mobile Home Park, a 38-unit manufactured homes community in St. Petersburg, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,326,250.
Dan Mulkey, vice president investments in Marcus & Millichap’s Tampa office, brought the buyer and seller together to complete this transaction. The seller resides in the Baltimore area and the buyer is from Orlando, both parties are limited liability companies.
Villa Plumosa Mobile Home Park is located at 3290 54th Avenue North in St. Petersburg, Florida. The park consists of 38 rentable sites, has market rents and contains a few rental homes.
“The seller has been placing new homes on the property over the last few years to replace older homes or fill vacant sites, and in doing so has upgraded the community,” says Mulkey. “The park had one vacancy at closing.”
“This community is well located offering the buyer an opportunity to take advantage of an excellent rental market which should maintain its high occupancy in the years to come,” concluded Mulkey.
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About Marcus & Millichap (NYSE: MMI)
With over 1,600 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 8,700 transactions in 2015 with a value of approximately $37.8 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