78th Avenue Apartment Homes LLC Acquires Rio Vista Village Apartments From Shawn Wilson For $31.35M

The multifamily asset located at 200 78th Avenue North in St. Petersburg encompasses a total of 186,000 square feet on 14.69 acres. The property was sold for $31,350,000, with the buyer being 78th Avenue Apartment Homes LLC and the seller as Shawn Wilson of Blue Sky Communities. The complex includes 248 units of the Rio Vista Village Apartments, marking its first sale since construction in 1974.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $31,350,000
• Square Footage: 186,000
• Price Per Square Foot: $169
• Address: 200 78th Avenue North
• Market: St. Petersburg
• Acres: 14.69
• Buyer: 78th Avenue Apartment Homes LLC
• Seller: Shawn Wilson - Blue Sky Communities
• Brokers: Avery Jordan & Zach Ames - Franklin Street

Franklin Street represented both sides in the transaction, facilitating the sale between the buyer and seller. The deal indicates plans for future upgrades to the complex, which is set on a substantial parcel of land in the St. Petersburg market.