3-UNIT DEVELOPMENT WITH EXISTING 935 SF SFR

Previously listed twice and initially priced at $1.195m as a potential 4-unit multifamily project, this 935 sq ft property faced significant challenges. Its journey began with an overpriced tag and the complexity of selling a project already in motion, which often raises buyer skepticism regarding the value of the investment.

Understanding the seller's motivation was crucial. We repositioned the property as a single-family house, sensibly listed at $850,000, with added value from ready-to-issue (RTI) plans for a duplex and an ADU. Our strategy included a detailed Offering Memorandum (OM) outlining projections, costs, estimated profits, and relevant sales and lease comps.

After just a month on the market, we put the property into escrow and closed at $830,000, proving that with the right approach, even challenging properties can achieve their true potential and find the right buyer.