Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of the SW Ocala Portfolio, a 22-unit apartment portfolio located in Ocala, Fla., according to Christopher W. Travis, regional manager of the firm’s Tampa office. The asset sold for $1,220,000.
The buyer, a private investor, was secured and represented by Miles Tombrink, Casey Babb, CCIM, Luis Baez, CCIM and Shawn Rupp.
“The Southwest Ocala Portfolio allowed our client to purchase a stabilized asset with immediate upside potential through rental increases. Due to the strong location and physical attributes of the property, the buyer was able to get favorable financing terms and close in less than 70 days from the execution of contract,” says Tombrink.
The SW Ocala Portfolio consists of 11 duplexes spread throughout 6 parcels in southwest Ocala. Each unit consists of two-bedrooms/one-bathroom and washer/dryer hookups. The buildings are all concrete block construction, have metal roofs and were built between 1964 and 1969.
