Equity Management Partners buys Elm Lake Apartments

BUYER: Elm Lake Apartment Properties LLC, Largo
SELLER: Elm Lake Apartments Ltd.
PROPERTY: 6318 E. 14th St., Sarasota
PRICE: $2.5 million
LAW FIRM ON DEED: Kaklis Venable & Witt PA, Bradenton

PLANS, DESCRIPTION:
Multifamily owner/operator Equity Management Partners Inc. purchased the 64-unit Elm Lake Apartments for $2.5 million.

The price equated to $39,063 per unit. That figure is less than the two-year average price per unit for multifamily space ($72,609) in the Tampa Bay area, according to the CoStar Group.