Marcus & Millichap Arranges Florida Multifamily Sale

The 136-unit community located in the Tampa metro area sold for $8.6 million.
Ridgestone Appartments

Ridgestone Appartments

Hudson, Fla.Marcus & Millichap has recently announced the $8.6 million sale of a 112,552-square-foot multifamily community known as Ridgestone Apartments in Hudson, Fla., a suburb of Tampa.

Francesco Carriera and Michael Regan, vice presidents in Marcus & Millichap’s Tampa office, represented the buyer and the seller—both undisclosed private investors.

“The buyer saw an opportunity that was more attractive than those in South Florida for an equal quality product of similar vintage,” said Carriera in a prepared statement. “The buyer plans to add value by implementing an interior renovation program.”

The 136-unit community located at 12429 Little Road comprises eight two-story residential buildings and a single-story building that currently features amenities such as clubhouse, leasing office, and business and fitness centers. All two-bedroom units feature washer and dryer connections and on-site laundry.

Image courtesy of Marcus & Millichap