Property Type: 4-Unit Multifamily Apartment Building with 4,000 sq. ft. of Commercial Storage Space
Seller Situation:
This property was part of the same purchase with Carnation Ave, with a retired landlord looking to cash in on her long-term rental investments. The seller had used the commercial storage space herself and wanted a seamless exit from property ownership. She was referred to us by her nephew, whose home we had also purchased.
Condition:
The multifamily units were occupied by tenants and required minimal updates. The commercial storage space was in good condition, ready for new use.
Sale Details:
We purchased this property as-is with an all-cash offer, closing the sale in 45 days as part of a package deal.
How We Helped:
- Facilitated a smooth transition for the seller, allowing her to exit property ownership without hassle.
- Retained all residential tenants, implementing slight rent increases while ensuring a smooth transition to our new property management team.
- Included the commercial storage space in the sale, providing the seller with a fair offer for her entire investment.
Future Plans:
- The residential units will remain as rentals, ensuring consistent housing options for tenants.
- The 4,000 sq. ft. commercial storage space will be rented to a commercial business, enhancing the property’s overall value.
Location Highlights:
Located on Georgetown Road, this property sits in a high-demand area, making it an excellent addition to our portfolio.
