Grayco Inc., a private investment group in Richmond, VA, sold the 27-acre, lakefront property and an undisclosed amount of adjoining vacant developable land. The site is at 7501 Ulmerton Rd. at the intersection of Ulmerton and Belcher Roads.
The two-story concrete block and stucco Monterey Lakes Apartments comprises 144 one-bedroom/one-bathroom units; 140 two-bedroom/two-bathroom floor plans; and 40 three-bedroom/two-bathroom units. Living area ranges from 806 sf to 1,325 sf.
Stephen St. Clair, a senior investment broker in the Orlando office of Marcus & Millichap Real Estate Investment Brokerage Co., represented Grayco.
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