As the Buyer’s representative, Maher Commercial Realty was able to underwrite this as a pro forma 15% cash-on-cash return in year one after acquisition. The subject property included one vacant unit as well as a legal storage unit and two-car garage (both convertible to ADU’s). This was an upleg to a 1031 exchange in which MCR was able to help the Buyer move their funds into a superior asset class, superior location, and a vision for an exponentially higher return on equity within one year of ownership.
Sale Price: $965,000
Number of Units: 3
Building Size: 1,810 Sq.Ft.
Lot Size: 4,773 Sq.Ft.
Price Per Sq.Ft. (Building): $533.15
Parking: 2-Car Garage and Carport