Tampa, FL (July 20, 2020) – Franklin Street has brokered the sale of Gandy Parkside, a 16-unit apartment community located in the city of Tampa, Florida.
Franklin Street’s Tampa multifamily investment sales team, Avery Jordan, Mark Savarese, Zach Ames and Darron Kattan represented the seller, Parkside Property Management, LLC and the buyer, Palm Street Capital, LLC in the $2,500,000 transaction. The buyer paid $156,250 per unit and is planning a significant value-add strategy through interior and exterior improvements.
“We were able to procure a true cash buyer during the COVID-19 pandemic,” said Avery Jordan, senior associate in Franklin Street’s Tampa office. “This competitive cash offer allowed us to move quickly from contract signing to closing in a 30-day timeframe.”
Gandy Parkside is located at 3208-3214 West Gandy Boulevard in Tampa, Florida. Built in 1985, Gandy Parkside is comprised of 12,992 SF of living space. The property is located in a prime South Tampa location near Bayshore Boulevard (0.5 Mi), Publix (0.5 Mi), Tampa Yacht & Country Club (1.2 Mi), the Selmon Expressway (0.7 Mi) and Downtown Tampa (9 Min).