June 5, 2020 Comments Off on Downtown Sarasota Affordable Housing Property Trades for $3M Views: 465 Central Florida, Florida News

Downtown Sarasota Affordable Housing Property Trades for $3M

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Marcus & Millichap has brokered the $3.1 million sale of Beneva Oaks, a 40-unit apartment property in downtown Sarasota.

Located at 650 North Beneva Rd., the property is a project-based, head of household disabled, Section 8 community. The neighborhood was originally developed in 1991 under the HUD Section 202 program, and has provided affordable housing for head of household disabled residents since inception. The community includes a leasing office, as well as a recreation room for residents.

Luis Baez, Miles Tombrink, Casey Babb and Shawn Rupp of The Babb Group in Marcus & Millichap’s Tampa office represented the seller, a private investor, in the transaction. The buyer was also a private investor.

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