Tag Archives: 4-unit

Special on Property Management for Annual Rentals for July 1 – Aug 31, 2017

Contact

tritoncre@gmail.com to discuss

Leave a comment

Filed under Commericial Real Estate Articles & News, Investment Real Estate

Hillview apartments sell for less than half boomtime price

Hillview apartments sell for less than half boomtime price

By Michael Braga, Herald-Tribune
/ Tuesday, October 2, 2012

Apartments pictured are representative. Not actual.

Brazos XV LLC, a subsidiary of American Momentum Bank, has sold a collection of rental properties off Hyde Park Street in Sarasota to My Hillview LLC for $715,000.

My Hillview, a Longboat Key company managed by Robert K. Lesser, financed the purchase with a $500,000 loan from American Momentum.

The properties include a 10-unit apartment complex
at 2066 Hyde Park Street, a 4-unit complex at 2067 Hyde Park Street, a 1,223-square-foot duplex at 2050 Hyde Park Street and a 1,125-square-foot house at 2059 Hyde Park Street.

The four properties were previously owned by Rand-Hillview LLC, a Sarasota company managed by Stephen Svirsky, Bart Leereveld and Kahoru Watanabe.

The partners paid $2.2 million for the buildings between December 2004 and January 2006.

For the complete article, CLICK HERE <—–=======

Leave a comment

Filed under Commericial Real Estate Articles & News, Investment Real Estate

To sell apartment building, find specialist agent – article from Beacon Journal

To sell apartment building, find specialist agent – article from Beacon Journal

Avoid those who focus on house sales; listing for $3 million should get break on commission

Posted on Sat, Sep. 02, 2006

Apartment & Investment Specialist — Sean Dreznin at NAI Manasota

By Bob Bruss

Q: We are considering listing our 48-unit apartment building for sale. We have spoken with two Realtors. We would like to know what commission to expect to pay on a $3 million sale. The standard rate for houses in our area is 6 percent. One of the Realtors wants a flat commission. The other has some sort of pyramid-style system involving starting out at 10 percent and going down to 3 percent after a certain amount, all combined together. What guidance can you give? — Ellen A.

A: You need a specialist who sells only commercial and apartment buildings.
Stay away from agents who specialize in house sales. Real-estate sales commissions are negotiable, especially on $3 million income property sales. According to Real Trends, the average home-sale commission is now 5.1 percent, so your commission should be less than that. Interview at least three apartment and commercial-property sales specialists who sell apartments in your vicinity. Listen to each agent’s listing presentation, including his/her quoted sales commission rates. Let each agent “sell” himself or herself to you, not necessarily based on the commission rate alone. Check out their references of recent sellers of properties like yours before selecting the best agent for your situation.

posted by S. Dreznin

1 Comment

Filed under Investment Real Estate