Carrot Properties Acquires 32-Unit Multifamily Asset In Holly Hill For $4.6M

The transaction involved a multifamily property located at 660 8th Street in Holly Hill, Florida, comprising 32 units and totaling 28,798 square feet. The sale was finalized at a price of $4,600,000, equating to a price per unit of $143,750 and a price per square foot of $160. The property sits on a 5.5-acre site, providing significant development potential due to over 3 acres of entitled land for up to 60 additional units.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,600,000
• Buyer: Carrot Properties
• Address: 660 8th Street
• Market: Holly Hill, FL
• Units: 32
• Square Feet: 28,798
• Price Per Unit: $143,750
• Price Per Square Foot: $160
• Acres: 5.5
• Brokers: Jason Hague & Ned Roberts - Marcus & Millichap

Jason Hague and Ned Roberts from Marcus & Millichap acted as brokers for the transaction, representing the buyer, Carrot Properties, which is an international buyer making its first acquisition in the state of Florida. The sale reflects strategic growth opportunities in the real estate market within the region.