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RPH Multifamily Group ARRANGES THE SALE OF A 21-UNIT APARTMENT BUILDING

ST. PETERSBURG, Fla., March 5, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Madison on 4th, a 21-unit apartment property located in St. Petersburg, Fla., according to Chris Travis, regional manager of the firm’s Tampa office. The asset sold for $2,250,000.

Sebastian Harris, Adam Podbelski, Ned Roberts, CCIM and Jason Hague, 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 limited liability company, was also secured and represented by Sebastian Harris, Adam Podbelski, Ned Roberts, CCIM and Jason Hague.

“Madison on 4th provided investors a great opportunity to acquire a turn-key community, with moderate upside, in a rapidly growing area of St. Petersburg. As a result of our marketing efforts we were able to facilitate 18 property tours resulting in 8 written offers. Ultimately, an out of state buyer was selected, who closed the deal at the contract price.” Said Harris.

Madison on 4th is located at 111 Southwest Madison Circle North in St. Petersburg, Fla. The multifamily community is located in immediate proximity to vibrant 4th street corridor with LA Fitness across the street and 3.5 miles to Downtown Core. There are 131,000 Jobs within 5 miles and 71.6 million square feet of office space within 15 miles (20-minute commute).


Are you interested in selling or buying Florida multifamily housing?


At RPH Multifamily Group we strictly specialize in Florida multifamily sales, so that you can make the most successful, informed, and stress-free multifamily investment decisions. Learn more about the RPH Multifamily Group’s Florida Multifamily Sales Advisory And Brokerage Services.

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