BUYER: Seminole Village Apartments LLC (principals: William and John Niejadlik), Sarasota
SELLER: Property SV LLC
PROPERTY: 7770 Starkey Road, Seminole
PRICE: $2.65 million
PREVIOUS PRICE: $1.1 million, September 1995
LAW FIRM ON DEED: Robert D. Barcley PA, St. Petersburg
PLANS, DESCRIPTION: An investment entity, led by William Niejadlik of Sarasota and his son John Niejadlik Jr. of Boca Raton, purchased the 56-unit Seminole Village apartment complex for $2.65 million.
The price equated to $47,321 per unit.
Built in 1984, the 55,920-square-foot apartment complex features four two-story buildings. The development contains only two-bedroom/one-bathroom units ranging in size from 950 to 1,120 rentable square feet. The development occupies 3.08 acres of land.
Seminole Village was 95% occupied at the time of the sale.
Nicholas Meoli, Michael Regan and Francesco Carriera of Marcus & Millichap's Tampa office handled the sale.
“We generated several written offers within a 45-day marketing period,” Meoli says in a press release. “Ultimately, the buyer was an all-cash investor who closed within 25 days of an executed purchase agreement. This sale reinforces the demand for well-located B-class assets in the Tampa Bay area.”