Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the $9.9 million sale of Village Square Apartments, a 68-unit multifamily community in Ocala, Florida.
“The RPH Multifamily team’s domination of the Marion County market continues with the closing of Village Square,” said Jason Hague, managing director investments in Marcus
& Millichap’s Tampa office. “Our track record, combined with our exhaustive marketing approach, ensured our client received top dollar for his property, ultimately closing at the second-highest price per unit ever achieved in Ocala for a multifamily property
between five and 100 units.”
Hague, along with Ned Roberts, managing director investments, represented the seller and procured the buyer.
Built in 1974, Village Square Apartments is located at 1715 Northeast 36th Avenue on a 5.3-acre site comprising eight two-story buildings. Amenities include on-site laundry facilities, a swimming pool, and private patios or balconies for every unit.
Recent improvements include updated kitchens and bathrooms in a significant portion of the apartments, new roofs on every building, cosmetic repairs, and landscaping upgrades. The property is near major employers, schools, and retail centers, and offers residents convenient access to Interstate 75 and downtown Ocala.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
