Clear Communication and Education Closes Deal

900 West College Street, an 8-unit multifamily investment asset located in the culturally dynamic and rapidly developing neighborhood of Chinatown. The 8,054 two-story building sits on a 6,808 SF lot and is comprised of(1) 4 Bdrm. and 3.5 Bath Townhouse, (1) 3 Bdrm. and 1.5 Bath unit and(5) 2 Bdrm. and 1 Bath units. The units offer a significant value-add opportunity to potential investors, as current rents are approximately 39% below market value for nicely remodeled units in the area

This property had been with the family since the patriarch developed it in the 1960s. After his passing, the beneficiaries sought to take advantage of their stepped-up basis and seek alternative investments.

With differences in opinion amongst the 6 beneficiaries involved, Kenny served as an intermediary and spoke with the beneficiaries. Through education on the sale and exchange process, all parties involved felt comfortable moving forward with the sale.

Through Kenny’s extensive network and cooperation with agents from various brokerages, he was able to generate a competitive bidding environment that led to 6 offers. Ultimately, the sellers were delighted to cash out and accepted an offer at 98.4% of the listed price. Meanwhile, the buyers were thrilled to acquire a property in a rapidly developing neighborhood with significant upside.