DUNEDIN, Fla., Dec. 27, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 727 Milwaukee Avenue Apartments, a 7-unit apartment property located in Dunedin, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $765,000.
Jason Hague, Michael Donaldson, Nicholas Meoli and Sebastian Harris, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. “We generated over ten offers upon exclusively listing the property and ultimately closed the deal with a cash buyer brought to us by an outside agent setting a record price per unit in the submarket,” says Mr. Harris.
727 Milwaukee Avenue Apartments is a multifamily community situated in a fast-growing submarket with significant rental upside through strategic renovations. The multifamily community is located at 727 Milwaukee Avenue in Dunedin, Florida.
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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