Updated almost 11 years ago on . Most recent reply
Im in a 1031 exchange, seeking 100 unit Multfmly under $3milion
Hello
We are about to close on our sale and need to find an exchange property. We are seeking the following:
As far as apartment specs, we are open to a "value-add" property in a decent (working class) neighborhood that will respond to the property after repositioning.
-100 unit average +/- 20 units
-Price range between $1million and $3million.
- C" type property in "B +" neighborhood would be ideal
-cap rates 8 / 9 and potential to make better.
- Regions; Anything between Mid States towards the West (draw a line from North Dakota down to Texas and West-ward) Will look at East-ward if deal looks lucrative.
Following features would be a plus, but not a deal breaker.
-separately metered
-Pitched roofs
-More 2 and 3 bedroom units to 1 bedrooms
-more units to less buildings ratio (we would rather have 100 units in ten buildings versus 30 separate buildings)
Lets see what stirs up. We are in full momentum to get into contract before year end.