50-Year-Old Apartment Property In Rockledge Fetches $6.25 Million

Sep 25, 2017 No Comments by

A 52-year-old apartment property next to a golf course in Rockledge sold for $6.25 million, or $67,204 per unit.

A private investor in New York acquired the 93-unit apartment property, called Rockledge Villas.

The six-acre property at 1525 South Fiske Boulevard in Rockledge was built in 1965 along the northeast corner of the Rockledge Golf Course and Country Club.


The buyer “was in a 1031 exchange from a property they sold in the Tampa area,” Felipe Echarte, first vice president investments in the Fort Lauderdale office of brokerage firm Marcus & Millichap, said in a prepared statement.

Echarte held the exclusive listing for Rockledge Villas together with Evan Kristol, executive managing director investments in Marcus & Millichap’s Fort Lauderdale office.

Rents at the apartment property are “approximately $50 below market,” Kristol said in a prepared statement.

Kristol and Echarte represented the private investor who sold Rockledge Villas and procured the buyer, also a private investor.


Source:  The Real Deal


Get the latest industry news and information from CRE-sources delivered right to your email inbox!

Click Here To Subscribe Today!


Go Ahead...Share!
  • email
  • Facebook
  • LinkedIn
  • Twitter
  • Add to favorites
  • Print
Industry News, Multi-Family, NA
No Responses to “50-Year-Old Apartment Property In Rockledge Fetches $6.25 Million”

Leave a Reply