10/28/2008

Jacksonville multi-family brings $4M

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Marcus & Millichap has negotiated the sale of the Arlington Village apartments in Jacksonville, Fla., for $4 million.

Tal Frydman and Daniel Draizin of the firm's Fort Lauderdale office represented the seller, an Aventura-based company, and the buyer, a local developer.

The multi-family property is located at 840 & 1000 Bert Rd. and contains 151 units. It was 60 percent occupied at the time of sale and is comprised of 17 two-story buildings.

"The buyer assumed a Fannie Mae loan and plans to renovate the property and stabilize it through lease up," Draizin said.

Address: 840 & 1000 Bert Road, Jacksonville, Fla.

Size: 151 units

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Filed Under: Multi-Family

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