The multi-family market is the setting for a lot of today’s win-win success stories. Take this recent sale of a 38-unit multi-family property completed by Adam Reid of the Thomas Duke Company:
Central Court is an apartment complex in a sought-after section of Garden City. Its 4 buildings are within walking distance of downtown and directly across the street from city hall and the police station.
The buyer, who was able to purchase at a high cap rate, saw that the complex’s below-market rents offered him a great opportunity to add value to the property. Plus, he knew he would get an even better rate of return down the road.
The seller found his win in the higher-than-average price per unit he earned at closing.
Adam sourced both players in this transaction. Now he has a list of buyers who lost this opportunity and are especially eager to jump on the next one. If you’ve thought about selling your multi-family property, this may be the time to take advantage of a market that turns nearly every transaction into a win-win.
Give Adam a call today for a free consultation on whether this is your time to get in the game.
