The property was on the market for just three weeks before it went under contract and received multiple offers, finalized with a cash offer with a four week close.
Selling at $67,000 per unit, the property comprises seven units, all two-bedroom apartments, and is fully occupied.
The buyer is a local investor who loves the area and is in the process of expanding their portfolio there. There is heavy potential to renovate units and increase rents and income further.
Advisor Jack Petrando describes why investors are looking to purchase in West Garfield Park. He states “West Garfield Park is an up and coming area which is incredibly attractive to investors. Properties in the neighborhood are also appreciating year over year at a really solid price.”
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