RPH MULTIFAMILY GROUP ARRANGES THE SALE OF A 14-UNIT & 6-UNIT APARTMENT BUILDING
TAMPA, FL, June 9, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Himes Townhomes, a 14-unit apartment property located in Tampa, FL and Tampa Street Cottages, a 6-unit apartment property located in Tampa, FL, according to David G. Bradley, regional manager of the firm’s Tampa office. Himes Townhomes sold for $1,500,000 and Tampa Street Cottages sold for $537,500.
Sebastian Harris, Ned Roberts, Jason Hague and Adam Podbelski, investment specialists in Marcus & Millichap’s Tampa office, sourced an accepted offer on the Himes Townhome property and listed Tampa Street Cottages on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Sebastian Harris, Ned Roberts, Jason Hague and Adam Podbelski, investment specialists in Marcus & Millichap’s Tampa office.
Himes Townhomes is located at 6501 N Himes Ave in Tampa, FL. The property consisted of a majority two bedroom one-and-a-half-bathroom townhome style units and was 93% occupied at the time of sale.
Tampa Street Cottages is located at 8724 North Tampa Street in Tampa, FL. The property has had over $50,000 of recent capital improvements including new roofs. The asset is constructed of concrete block and has individual cottage style units, creating neighborhood-like setting. “The buyer was attracted to the rent growth taking place in the market, the townhome-style of the units on Himes, and neighborhood like setting of the cottages. This investor plans to continue and build upon the renovation program started by the seller. These properties were purchased by a new to market out of state investor, this transaction is indicative of the high volume of out of state investors we are seeing flood into the Tampa Bay area. Most of these investors are fleeing high cost of living, less business-friendly areas, and are incredibly bullish on the future of the Tampa Bay area,” said Harris.
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