Updated 28 days ago on .
Garage Condominiums - 4 Units Total
Investment Info:
Other commercial investment investment.
Sale price: $16,000,000
the project is a commercial building consisting of 4 garage condominium units. Each Unit is 28' X 50' with 16' ceilings. Each unit is fully insulated and prepped for in-floor radiant heat. These units sell for $160,000 each.
What made you interested in investing in this type of deal?
I build a couple of new construction homes a year. This particular property was better suited for these commercial garage condominiums. Our community supports this type of building.
How did you find this deal and how did you negotiate it?
I am a builder, Financial redesign specialist for real estate investors, and a Realtor. I found this property on the MLS for our community.
How did you finance this deal?
conventional
How did you add value to the deal?
Performed a comparative market analysis and built the project within those parameters.
What was the outcome?
The building has just recently been competecd. 2 of the 4 units are sold.
Lessons learned? Challenges?
You can't control the weather.
