Vintage Community Sold in University Area
- Aug 18, 2015
A rental community near Interstate 275 traded hands recently, Marcus & Millichap’s Tampa office announced. Located in the University submarket of Hillsborough County, Parkview Apartments is a 100-unit vintage garden community.
Vice President Casey Babb and Senior Associate Luis Baez with Marcus & Millichap’s Tampa office had the exclusive listing to market the property on behalf of the seller. The buyer was secured and represented by Vice President David Greenberg and Associate David Altman of the M&M’s Fort Lauderdale office. Both parties involved in the $4.62 million transaction were private investors of undisclosed identity.
According to Yardi Matrix, Parkview was built on a 5.23-acre site at 10905 Bourbon Court in the late 1960s. The community consists of two-story buildings surrounding common green space areas and a swimming pool. Units consist of 24 one-bedroom/one-bath apartments at 700 square feet, 56 two-bedroom/one-and-one-half-bath homes at 1,100 square feet and 20 three-bedroom/two-bath units at 1,300 square feet. Each residence features a fully- equipped kitchen with a dishwasher and garbage disposal, large open floor plan and tile flooring. Select units also come with private balconies.
The location has major demand drivers in close proximity such as the University of South Florida campus and the University Mall (just under 5 miles), and employment hubs like downtown Tampa and the Westshore business district (less than 10 miles).
Photo credit: Yardi Matrix