TAMPA, Florida, May 2, 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 Tampa – St. Petersburg Portfolio, a 21-unit apartment property located in Tampa, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,335,000.
James Vestal, an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by James Vestal.
Tampa – St. Petersburg Portfolio is located at 1709 E Chelsea St in Tampa, Florida and consists of 19 parcels with 19 buildings and 21 units with 17 single-family homes and two duplexes. Thirteen units are located in the city of Tampa in Hillsborough County and eight units are located in the city of St. Petersburg in Pinellas County. The portfolio consists of two, one-bedroom/one-bath units; two, two-bedroom/one-bath units; 10 three-bedroom/one-bath units; one, three-bedroom/one-and-a-half-bath unit; three, three-bedroom/two-bath units; one, four-bedroom/one-bath unit; and two, four-bedroom/two-bath units for a total of 21 units.
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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