12/26/2008

Clearwater apartments bring nearly $7M

by
Wisco 1, LLC, has purchased the Long Branch Apartments in Clearwater, Fla., for $6.99 million from Denver, Colo.-based New South Properties.

John Burpee of NAI Tampa Bay represented the buyer while New South Properties was represented by John Stone of Colliers Arnold.

The apartments are located at 2175 62nd St. N. and contain 184 units. At 30 percent vacant, the property sold for $38,000 per unit with the buyer and seller splitting all closing costs. The buyer plans to invest over $1 million in upgrades over the next year.

Address: 2175 62nd St. N., Clearwater, Fla.

Size: 184 units

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Filed Under: Multi-Family

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