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Suburban Multifamily Portfolio

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Suburban Multifamily Portfolio

Project Overview

In advance of winning the listing, 33’s brokerage team worked with the 33’s Leasing team and Cubed Construction to quantify projected rents and associated renovation costs, respectively. These data points, along with comparative sales, were used to arrive at projected list and sales price. This approach was shared with the seller and ultimately the reason he selected 33 for the listing as we were able to produce and defend empirical data that would drive up the value of the property.

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our process

Project Outcome

Over the course of 14 days, 33 conducted 15+ tours and received multiple qualified offers. By creating a competitive bidding environment, we sold the property at full asking price of $3,300,000, demanded the winning bidder purchase the property “as-is” and closed the sale within 60 days of contract signing. The sales price represented a 100% increase in value from the property’s previous sale in 2011.

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after
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5.75%
Sale Price CAP Rate
4
Number of Offers
27
Days to Contract
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