The Babb Group of Marcus & Millichap arranges the sale of 12-unit boutique apartment community in Venice, Florida

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San Marco Village
Marcus & Millichap announced the sale of San Marco Village, a 12-unit apartment property located in Venice, Florida.

Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of San Marco Village, a 12-unit apartment property located in Venice, FL, according to Christopher W. Travis, regional manager of the firm’s Tampa office. The asset sold for $1,100,000.

Casey Babb, Luis Baez, Sean A Dreznin, and Shawn Rupp, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was secured by Casey Babb, Luis Baez, Sean A Dreznin and Shawn Rupp, “Venice is a highly desired submarket with one of the strongest occupancy rates in the Sarasota-Manatee county area and has a high barrier to entry. This building is one of three to sell within the past six years between 10 and 100 units. The location is top-tier in Sarasota county and is another reason that attracted the buyer to the property,” said Sean Dreznin.

San Marco Village is located at 620 Guild Dr in Venice, FL. Each of San Marco Village’s units includes tile flooring, updated kitchen and bathroom amenities, air conditioning, and contemporary fixtures. The property, built in 1959, offers residents a stellar location nearby beaches and parks, along with easy access to the local airport and hospital.