PA Picks – Multifamily = MultiPROFIT

March 5th, 2012 by melissa
In the current sluggish real estate market, one property type seems to be drawing crowds and closing contracts in droves – multifamily. With rentals on the rise and vacancies at an all-time low, investors are smelling major profits with this piece of real estate. This week, we’re taking a look at some potential moneymakers attracting so much attention in the market.

Check out Tranzon Hanley’s 116-unit apartment community in Dallas, Texas. With 75 apartments already rented and only 6 considered in need of renovation, this property will be an easy takeover for the new owner. Select features include ample parking with 55+ covered spaces, and a recently redone leasing office. PA is picking this one for its stellar location, conveniently situated in South Dallas with easy access to US 67 and I-35. Sealed bids are due March 27th.

If you prefer a ‘house’-type unit over a complex, take a look at Menke-Hoyer Auction & Realty Company’s triplex home in Fort Madison, Iowa. Offering a 2-bedroom apartment on the 1st floor and two 1-bedroom apartments on the second floor, perks on this property include entries on both floors, a 2nd-story fire escape and a 3-car garage, all nestled in a quaint neighborhood. PA digs this one for its bounty of recent upgrades including new carpet, paint, electric and wiring, and major appliances. Auction date is April 5th.

You can leave a response, or trackback from your own site.

Leave a Reply


Switch to our mobile site