List Price: $1,190,000

Sales Price: $1,114,000 (Represented Buyer)

This multi unit quad is centrally located between City Park to the North, Cheesman Park to the southwest, and Congress Park directly to the south. This income property offers a great unit mix between 1 and 2 bedrooms. There is also several value add scenarios my client plans to address in the coming years. Cap Rate off the purchase was right around 5%; however, after the Buyer addresses some of the value add scenario this Cap should increase by a point or two. At that point it might make sense to sell through a 1031 exchange and get into a larger building without having to pay capital gains on the proceeds/profit.

Are you interested in cash flowing apartment buildings? Value add scenarios? If so, reach out and lets discuss…