A 12-unit apartment building sold for $1.6 million by Marcus & Millichap

25
Lemon Bay Villas
Marcus & Millichap announced the sale of Lemon Bay Villas, a 12-unit apartment property located in Englewood, Florida

Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Lemon Bay Villas, a 12-unit apartment property located in Englewood, FL, according to David G. Bradley, regional manager of the firm’s Tampa office. The asset sold for $1,600,000.

Adam Podbelski, Ned Roberts, Jason Hague and Sam Ferguson, 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. The buyer, a private investor, was secured and represented by Sebastian Harris, Adam Podbelski, Ned Roberts, Jason Hague and Sam Ferguson, investment specialists in Marcus & Millichap’s Tampa office

“The Buyer, a private investor based out of California, was attracted to the asset because of the above average yield, turn-key property condition, strong collections amidst the COVID-19 shutdown and the emerging nature of the Englewood market. These items resulted in a transaction that closed at 100 percent of the list price.” Said Harris.

Lemon Bay Villas is located at 350 N Elm St in Englewood, FL.