Monday, November 29, 2010

12 Unit Apartment Building - SOLD

I acted as the Purchasing Agent for this 12 unit apartment building in East York. The building had several issues and the rent roll was well below market value. One of my more expierenced clients was abel to turn this building around in a matter of months. Today the building is fully occupied, earning market rents, with a double digit cap rate. The cost per unit was under 90K  which is unheard of for a income property on the subway line.