The property consists of 18 two-bedroom/one-bath and four three-bedroom/one bath units. The buyer plans to do some renovations, says Grubb & Ellis broker Terrance Hunt, who handled the deal with his partner, Matthew Meredith.
"This local investor can take advantage of his "hands-on" management style to more efficiently operate this property, increasing occupancy and controlling expenses. This is something the out-of-state sellers have had difficulties with," Hunt says.
NOT FOR REPRINT
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
