Imperial Crown Apts Sell for $69M


Imperial Crown, Inc. sold the 173-unit Imperial Crown Apartments at 1013 Griffin Rd. in Lakeland, FL to Mallah Enterprises for $6.85 million, or about $40,000 per unit. The 118,812-square-foot multifamily property was built in 1975 on 6.6 acres in the Polk County submarket of Tampa. It consists of two four-story buildings totaling 105 one-bedroom and 68 two-bedroom units with asking rents between $540 and $740 per month, and features on-site laundry...

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