Press Releases
Marcus & Millichap Brokers $5.3M Sale of Multifamily Property in Vero Beach, Florida
July 01, 2026
VERO BEACH, Fla., July 1, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Val Apartments, a 36-unit multifamily property in Vero Beach, Florida. The asset sold for $5.3 million.
“As a strategy to maximize the sale price, the sellers provided 75% loan-to-value (LTV) seller financing to the buyer,” said River Rhoads, director investments in Marcus & Millichap’s Fort Lauderdale office. “In today’s volatile interest rate environment, sellers with little or no existing debt can leverage seller financing to overcome potential financing hurdles, expand the buyer pool and create a smoother, more certain path to closing.”
Rhoads, Daniel Cunningham, Evan Richardson, Dillon Majeski and Cory Sanchez of Marcus & Millichap exclusively marketed the property on behalf of the seller.
Located at 1825 40th Ave., the property consists of six buildings on a 1.26-acre lot. The unit mix is entirely two-bedroom, one-bathroom apartments averaging 737 square feet. Built in 1969, the property recently received pitched roof replacements. Val Apartments is near U.S. Highway 1, downtown Vero Beach and the beachfront barrier island.
“As a strategy to maximize the sale price, the sellers provided 75% loan-to-value (LTV) seller financing to the buyer,” said River Rhoads, director investments in Marcus & Millichap’s Fort Lauderdale office. “In today’s volatile interest rate environment, sellers with little or no existing debt can leverage seller financing to overcome potential financing hurdles, expand the buyer pool and create a smoother, more certain path to closing.”
Rhoads, Daniel Cunningham, Evan Richardson, Dillon Majeski and Cory Sanchez of Marcus & Millichap exclusively marketed the property on behalf of the seller.
Located at 1825 40th Ave., the property consists of six buildings on a 1.26-acre lot. The unit mix is entirely two-bedroom, one-bathroom apartments averaging 737 square feet. Built in 1969, the property recently received pitched roof replacements. Val Apartments is near U.S. Highway 1, downtown Vero Beach and the beachfront barrier island.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
