NEW PORT RICHEY, Fla., February 28, 2019 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of River's Edge Apartments, a 21-unit apartment property located in New Port Richey, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,400,000.
Jason Hague, Adam Podbelski and Ned Roberts, CCIM 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 limited liability company, was secured and represented by Jason Hague, an investment specialist in Marcus & Millichap’s Tampa office.
River’s Edge Apartments is a rare waterfront Class “B” community with a dock. The apartments have an attractive unit mix of 95% two-bedroom units with above-average size floor plans. Amenities include washer/dryers in select units and on-site laundry facilities.
River’s Edge Apartments is situated less than a half-mile from the major thoroughfare of U.S. Highway 19, which sees 57,000 cars daily. The apartment community is within walking distance to several major medical centers and a retail corridor. Port Richey is located in Pasco Country which is one of the 100 fastest growing counties in the country, according to U.S Census Bureau, and the 12th largest county in Florida. River's Edge Apartments is located at 5604 La Salle Ct in New Port Richey, Fla.
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