RPH Multifamily Group of Marcus & Millichap

01/17/2023

Just Listed | Opportunity Zone Development in St. Petersburg, FL

Price: To Be Determined by Market

- +/- 1.16 Acre, 7 parcel development assemblage

- Located inside opportunity zone

- Frontage on DR. MLK Jr. Street with 14,500 AVPD

- 1.5 Miles to core Downtown St. Petersburg

- Flexible zoning options

- 10,927 Employers within a 5-mile radius

- $81,297 Average household income within a 5-mile radius




For more information on this listing, including the offering memorandum and financials, please use the link below.

https://buff.ly/3XjeQTH

01/12/2023

JUST SOLD | 39 units in Largo, FL (Tampa Bay MSA)

-Generated 19 offers

-Closed at 97.42% of list price and 100% of contract price, despite 200 bps increase in Federal Funds Rate between listing launch and closing

-Agent was instrumental in overcoming significant title issue by working closely with local municipality



For available listings, please click here: https://buff.ly/2G83koe

12/01/2022

JUST LISTED | A 71-Unit Townhome Development Site | Seller Financing and JV Available

Price: $1,384,500

- A 7.2+ acre site designated for a 71-unit townhome development and located in an opportunity zone

- Located in an area with an irrefutably high need for housing, partly due to the unanticipated increase in migration combined with a critically low quantity of new construction

- Growing city evidenced by major developers taking advantage of the long-term potential. The Garcia Companies recently broke ground on a 15-year, 800+ acre master planned community consisting of 2,500+ single-family and multifamily residences along with a town center; all are adjacent to the subject property

- Widespread indications that new housing will attract homebuyers from neighboring coastal communities, who are unable to afford the cost of city living

- Located within a 40-minute drive to West Palm Beach, Stuart and other neighboring cities. Beeline Hwy (SR-710) is currently expanding to six lanes and is expected to reduce commute times by 13%



For more information on this listing, including the offering memorandum and financials, please use the link below.

https://buff.ly/3EUxp8L

11/04/2022

JUST LISTED | Takeover 7% Cap | 14-Unit HUD Multifamily Community in Melbourne, FL

Price: $1,650,000

-14-unit project-based Section 8 multifamily community

-Active HAP contract with approximately 15 years remaining

-Seller recently completed and was approved by HUD for an OCAF rent adjustment which will increase rents by $200 starting October 1, 2022

-Situated less than one mile from US Highway 1 which sees 34,500 cars daily

-Located 1.2 miles from Florida Institute of Technology

-Well located in a rapidly growing submarket within Florida’s Space Coast; home of SpaceX, Blue Origin and NASA’s Kennedy Space Center

-On-Site Laundry Facility

-Concrete Block Construction



For more information on this listing, including the offering memorandum and financials, please use the link below.

https://buff.ly/3yy27zP

11/03/2022

JUST SOLD | 50 units | Closed in 52 days | 2nd Highest Price Per Unit Ever in Brooksville, Florida

Sale Price: $5,225,000

-50-unit multifamily asset located in Brooksville, Florida

-Closed at contract price despite 75 bps Fed rate hike during in-contract period

-52 days from contract to closing

-$104,500 per unit is the second highest ever paid in Brooksville

-Buyer sourced 80% LTC bridge debt with Marcus & Millichap Capital Corporation

-Navigated numerous lender challenges throughout in-contract period




For available listings, please click here: https://buff.ly/2G83koe

11/03/2022

Please help us in congratulating Ned Roberts, Adam Podbelski, Jason Hague, and Duane Anderson for being recognized by as 2022 Quarterly Deals winners for Q3!

Learn more:
https://buff.ly/3sXEHTQ

10/28/2022

JUST SOLD | 30 Units in Winter Haven, Florida | Closed with New Debt in 54 Days

Sale Price: $3,900,000

-30-unit multifamily community in Winter Haven, FL

-Under contract within one day of marketing launch

-54 days from contract ex*****on to closing

-$130,000 per unit is the fourth highest ever paid for a less than 100-unit community in Winter Haven

-Closed at target and contract price

-Buyer sourced new debt with Marcus & Millichap Capital Corporation



For available listings, please click here: https://buff.ly/2G83koe

10/24/2022

JUST SOLD | 76 Units in Clearwater, Florida | 5.15% Cap Rate Following 300 bps Rate Hike Since Launch

Sale Price: $12,100,000

-76-unit multifamily asset located in Clearwater, Florida

-Achieved 93% of target price, despite 300 bps Fed Funds Rate increase following deal launch

-Assisted seller in acquiring asset and realizing nearly 70% gain on sale in less than 18 months

-Navigated numerous lender re-trades and delays over extended escrow period

-Only Clearwater sub 100-unit multifamily closing in Q3 2022



For available listings, please click here: https://buff.ly/2P8X4S1

10/14/2022

JUST LISTED | 56 Units in Ocala, FL | Over $279 Rental Upside Per Unit

Price: $8,300,000

-A 56-unit multifamily community located in the rapidly growing City of Ocala, FL

-Part of a 112-unit, three-property portfolio in a submarket where demand for rentals is at an all-time high; properties can be purchased separately or collectively

-Substantial and defendable rental upside available of over $279 per unit on average through strategic unit renovations

-Ocala ranked 5th among the “fast-growing places” in the United States and saw net migration of nearly 10% from 2014-2018 (US News & World Report, 2020-2021)

-Future job growth for Ocala is expected to significantly outpace the National Average at a rate of 37.6% over the next ten years (BestPlaces, 2021)

-Ocala was ranked as the 69th “Best Place to Live” in the United States (US News & World Report, 2020-2021)

-Ocala has become a powerhouse logistical hub and is home to distribution and logistics centers for major companies such as Chewy, AutoZone, FedEx, Kmart, Dollar Tree and Amazon

-In 2021 Amazon broke ground on a 1 million+ square foot warehouse in the northwest part of the city where they expect to add up to another 8,000 jobs in addition to the 617,000 square warehouse already in use

-Dollar Tree announced in 2021 their plan to break ground on a 1.7 million square foot distribution center in Ocala



For more information on this listing, including the offering memorandum and financials, please use the link below.

Multifamily property for sale at 1709 NE 2nd St, Ocala, FL 34470. Visit Crexi.com to read property details & contact the listing broker.

10/14/2022

JUST LISTED | 24 Units in Ocala, FL | Over $277 Rental Upside Per Unit

Price: $4,000,000

-A 24-unit multifamily community located in the rapidly growing City of Ocala, FL

-Part of a 112-unit, three-property portfolio in a submarket where demand for rentals is at an all-time high; properties can be purchased separately or collectively

-Substantial and defendable rental upside available of over $277 per unit on average through strategic unit renovations

-Washer/Dryer connections in each unit

-Ocala ranked 5th among the “fast-growing places” in the United States and saw net migration of nearly 10% from 2014-2018 (US News & World Report, 2020-2021)

-Future job growth for Ocala is expected to significantly outpace the National Average at a rate of 37.6% over the next ten years (BestPlaces, 2021)

-Ocala was ranked as the 69th “Best Place to Live” in the United States (US News & World Report, 2020-2021)

-Ocala has become a powerhouse logistical hub and is home to distribution and logistics centers for major companies such as Chewy, AutoZone, FedEx, Kmart, Dollar Tree and Amazon

-In 2021 Amazon broke ground on a 1 million+ square foot warehouse in the northwest part of the city where they expect to add up to another 8,000 jobs in addition to the 617,000 square warehouse already in use

-Dollar Tree announced in 2021 their plan to break ground on a 1.7 million square foot distribution center in Ocala



For more information on this listing, including the offering memorandum and financials, please use the link below.

Multifamily property for sale at 1731 NE 14th St, Ocala, FL 34470. Visit Crexi.com to read property details & contact the listing broker.

09/29/2022

JUST LISTED | 242-Unit Shovel-Ready Multifamily Opportunity in Fort Pierce, FL | Adjacent to a Golf & Country Club

Price: To be Determined by Market

-242-unit, shovel-ready multi-family development opportunity located immediately adjacent to an existing Grade-A golf & country club

-11 buildings spread over a 16-acre site comprised of a mix of 1- and 2-bedroom configurations ranging from 846 to 1,511 square feet

-Extensive level of approvals and development in place allowing a buyer to close on the site and begin construction immediately

-Can be developed as a for-rent or for-sale community

-High demand location evidenced by over 80 in-progress multi-family developments and over 15,000 units in the area



For more information on this listing, including the offering memorandum and financials, please use the link below.

Land property for sale at Gator Greens Way, Fort Pierce, FL 34982. Visit Crexi.com to read property details & contact the listing broker.

09/01/2022

JUST LISTED | 58-Lot Land Development in New Port Richey, FL | Direct Access to The Gulf of Mexico

Price: $4,600,000

-7.7 acre approved and ready to build community

-58 single-family water view lots located in the Tampa MSA

-Utilities and infrastructure in place

-6/58 units already built with five under contract and several reservations for the remaining units if the buyer wishes to continue with the in place development

-Opportunity to swiftly capitalize on the markets housing supply shortage

-Water views with access to the Gulf of Mexico

-Approximately 37 miles northwest of greater Tampa, the top emerging tech city in the U.S. (Forbes)



For more information on this listing, including the offering memorandum and financials, please use the link below.

Land property for sale at 4835 Green Key Rd, New Port Richey, FL 34652. Visit Crexi.com to read property details & contact the listing broker.