Monterey Lakes Apartments in Largo, FL, sold for $17.73 million. The two-story, 324-unit property is at 7501 Ulmerton Road. With frontage on Ulmerton Rd, the concrete block and stucco building also had developable land adjacent to the property included in the sale. The property includes two lakes and 321,744 square feet of rentable area on a 27-acre parcel. The living area ranges from 806 to 1,325 square feet of 144 one-bedroom/one-bathroom units, 140 two-bedroom/two-bathroom floor plans and 40 three-bedroom /two- bathroom units. Stephen St. Clair of Marcus & Millichap represented the seller.