The Real Deal Miami

Central Florida rentals sold fast to California buyer

December 18, 2016 10:00AM

Lakeview Landings in Avon Park, Florida

UPDATED Dec. 20, 2:50 p.m. NNN Investment Advisors announced the $2.05 million sale of a 38-unit apartment complex in Central Florida that spent two days on the market before going under contract.

Lorrie Garbarz, and Richard Grondin, principal brokers at NNN Investment Advisors, had the listing for the Lakeview Landings apartment complex in Avon Park.

The units at Lakeview Landings, 904 South Florida Avenue in Avon Park, sold for $53,947 per unit in a closing on Dec. 14.

West Palm Beach-based NNN said in a press release that the buyer is “a California investor who was seeking returns that are unavailable in core markets.”

The seller had paid $1.025 million to acquire Lakeview Landings in late 2015 and renovated the apartment property.