Miami apartment investor buys North Tampa portfolio

BUYER: BH Tampa 140 LLC (principals: Elisa Sayd), Miami
SELLER: TMF13 LLC and 2004 140th LLC
PROPERTY: 13801, 13802, 13812, 13911 and 13917 N. 19th St., 2004 E. 104th Ave. and 2008 Holly Court, Tampa
PRICE: $3.75 million
PREVIOUS PRICE: $650,000, September 2011 and $300,000, October 2012

PLANS, DESCRIPTION: Miami apartment investor Elisa Sayd purchased a portfolio of four apartment buildings in North Tampa for $3.75 million.

The price equated to $40 per square foot or $26,785 per unit.

Built between 1965 and 1974, the four mostly concrete-block and stucco apartment properties are within half a mile of each other. The properties feature no community amenities.

The portfolio was 95% occupied at the time of the sale.

Kevin Kelleher, Darron Kattan, Robert Goldfinger and Zach Ames of Franklin Street Real Estate handled the transaction.

“They were all generally in good shape and had been renovated within the last 12 to 18 months,” Kelleher says. “In that neighborhood, the units are going for the mid- to upper teens to about $30,000 a unit. This was on the upper end because of its condition and occupancy. This was above average product for that area.”

Sayd owns other apartment properties in Southeast Florida.