Real Estate

Largo Apartments Sell for $825,000

The 22-unit apartment complex was sold to a California-based investor.

Tara Gardens, a 22-unit apartment complex at 1630 Jefferson Ave. in Largo, has sold for $825,000.

The property previously sold in 2007 for $1.48 million, according to Pinellas County Appraiser's Office.

This time around, the apartment complex was purchased by a California-based private investor. An article in the Tampa Bay Business Journal said that the purchased is the second one by the buyer in Pinellas County in the past 12 months.

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Many companies see investing in rental apartments and rental homes as a way to turn a profit, as fewer people are qualifying to borrow money to buy a home since the real estate collapse.

The property originally was built in 1972. It has a two-story building on a half-acre, according to listings for the site. Units are one and two bedrooms. Most of the units were renovated in the last 12 months.

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