The property touches one of the city's premier golf courses, the 18-hole, 3,940-yard West End course. Dorothy Jackman and Robert Goldfinger of the Goldfinger-Crotty-Johnson multifamily investment team in the Tampa office of Marcus & Millichap Real Estate Investment Brokerage Co. found the buyer "after an extensive marketing campaign," Jackman says.
"The Greens was appealing to many investors because it provided the buyer with two options," the broker tells GlobeSt.com. "They could continue to operate it as an apartment community or immediately convert the asset to condominiums. In this case, the buyer plans to capitalize on the strong condo demand in Florida by converting the property to for-sale units."
Jackman says the Greens "was designed with condominium conversion in mind. There are no neighbors above or below any apartment home and each unit has its own pass-through-to-unit attached garage." The community has a fully equipped fitness center, two tennis courts, a pool, whirlpool and a Swedish cedar sauna in the clubhouse.
The unit mix is comprised of 44 one-bedroom, one-bath units, averaging 800 sf and renting for $819 per month; 65 two-bedroom, two-bath flats containing 1,174 sf and renting for $994 per month; 44 two-bedroom, 2.5-bath townhome plans sized 1,345 sf and renting for $1,029 per month; and 49 three-bedroom, two-bath units averaging 1,524 sf and renting for $1,249 per month.
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