Caspian HOehne
541-944-9967
Case Study / 2974 Stacie Way
Our team handled the sale of this well-located fourplex, successfully navigating a challenging tenant situation through to a strong closing.
1. Evaluation
The owners of this fourplex were experiencing serious loss of income due to rent delinquency throughout 2020, with 2 of the 4 units consistently missing rent payments. Our team conducted thorough reviews of all available financials, and were able to craft a pricing strategy that took into account the current condition. Working with the property manager, eviction procedures were started for a hostile tenant, and an in-depth Offering Memorandum was crafted.
2. Presentation
Understanding the poor financial health of this asset, we brought this fourplex to the open market for maximum Buyer exposure. We quickly garnered strong interest, and conducted back-to-back walkthroughs with interested Buyers. We procured multiple offers within just a few days of listing.
3. Transaction
Once terms were agreed with a cash Buyer, typical escrow procedures were followed. Again working alongside the property manager, we successfully removed the hostile tenant, and managed a full turnover of the unit, which was left in poor condition by the prior tenant. Following somewhat complicated negotiations surrounding property repairs, we came to good agreement and closed out the transaction. Total time to close was under 2 months, and our client walked away with a strong profit.
