SOLD! I represented the sellers in the apartment building transaction which
contained four units. The vintage property, located beautifully near Heart Coffee and Luce restaurant on 2126 East Burnside featured hardwood floors, vintage tiles, large bedrooms with built in closets.
The property sold for $625,000, with a 12.73 Gross Rent Multiplier, a 5.10% cap rate of and $188 per square foot. The property had significant upside with rents due to the immaculate hardwood floors and upgrade potential with the basement and backyard. Madeleine Rose from Windermere provided outstanding representation for the buyers, and Bernard Gehret
of Joseph Bernard Investment Real Estate represented the sellers.