In this real estate case study, the former owners of Carriage House Portfolio
They came to us as they saw the Lowell real estate market rising in value and wanted to know what their multifamily property would sell for on the open market.
Gene S. and his business partners interviewed three independent brokers before deciding to work with our team due to our strong track record in the multifamily real estate investing market.
Using our proven Maximum Value Process™, we put together a property valuation and demand analysis for the Carriage House Portfolio. We considered both the below-market rents and the condition of the properties. Due to our knowledge of the Lowell market, we shared that the current rents were 30% below market value. An extensive connection with the buying pool for this area allowed for relationship-driven advisory, and we found a buyer who desired a similar portfolio for years.
The properties did not meet current fire safety standards and required a new monitored fire system. Our relationships with local contractors allowed us to expedite the process of getting the system up to code. Which then allowed us to bring the property to closing quickly.
With below-market rents and the safety systems updated, there was a unique opportunity to create wealth through capital improvements and raising rents to the market level available for potential buyers. And the ability to secure a premium closing price for the sellers.
Using our experience and expertise in the Greater Boston real estate market, we guided our client through a process that was both favorable and stress-free. We managed a few challenges but fulfilled the needs of both buyer and seller within a few months.
Within the first two weeks of listing the property, eleven qualified bidders toured the properties. This competitive process resulted in four offers above the asking price and provided our clients with the proceeds they were looking for to sustain retirement.
“Several months ago, we decided to sell our multifamily investment property consisting of 26 units spread out across four buildings. Northeast Private Client Group turned out to be the best representation for our sale. Jim, Drew, and Francis stepped up on numerous occasions without being asked. It was a wise choice.“
We aim to guide you with market knowledge that helps you make the right decision at the right time; to maximize value and return on your investment.