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Plant City Apartment Community Trades for $2M
Marcus & Millichap has arranged the $2.1 million sale of Colony Gardens, a 24-unit apartment community in Plant City. Casey Babb, Luis Baez, Miles Tombrink and Shawn Rupp of Marcus & Millichap’s Tampa office represented the seller, a private investor, in the transaction. The buyer was not disclosed.
Located at 111 North Pearl St., the property consists of two, two-story buildings comprised of 24 two-bedroom, one-bathroom units. All units are 1980s construction with wood frame and pitched shingle roofs.
“Despite the challenges brought on by the COVID-19 pandemic, we were able to maximize our client’s net proceeds by delivering a price per unit record in the Plant City submarket sub-100 units. We were able to accomplish this feat due to our process and experience managing multifamily transactions,” said Baez.
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
