(Save the date: RealShare Industrial 2012 comes to The Bankers Club, Miami, December 5 - 6.)
TAMPA, FL—Cayman Islander, a vintage 1960 multifamily property in a strategic neighborhood, is getting a new lease on life. After sitting on the market for two years in the wake of foreclosure, two investors snapped up the distressed multifamily project with plans for a major rehab.
Located at 4205 S. Manhattan Avenue in South Tampa, Cayman Islander traded for $341,250. The sale price represents $14,218 per unit and $23 per square foot. The buyer will invest about $200,00 to renovate the distressed multifamily asset.
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