$1.85M
2310 Montrose Ave, Montrose
Sale Price
$1.85M
Units
5
Price/Unit
$370,000
Cap Rate
3.52%
Type
Apartment Building
Closed
September 2020
5 Units | Montrose | 3.58% Cap | 17.42 GRM
The LAAA Team of Marcus & Millichap is proud to announce the successful sale of these 5 units located at 2310 Montrose Avenue in Montrose, California. Built in 1939, the investment sits on 8,664 square feet of land with 5,156 square feet of rentable area and consists of 1- two bed / one bath, 2- two bed / two bath, 2- three bed / two bath untis.
Through our superior marketing platform and unmatched resources, we were able to source a local 1031 exchange buyer who closed prior to the November vote and during the COVID-19 pandemic.
The Sellers were out of state owners who will be exchanging into triple-net (NNN) assets for a passive income stream with better yield. Through this 1031 exchange, the Sellers will be able to more than double their net cash flow, and also get rid of all management responsibilities.
For more information about this transaction, to receive a complimentary pricing evaluation on your property, or to learn more about the very popular option of a 1031 exchange into high cash flow, hassle-free triple-net properties, give Rick a call or email today!
(818) 212-2788
Rick.Ramirez@marcusmillichap.com
Closing