Multifamily Investors Are Spending More Capital in Secondary, Tertiary Markets

 

Multifamily Investors Are Spending More Capital in Secondary, Tertiary Markets

Slightly higher yields and still expanding economies are driving multifamily investors to smaller cities.
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MULTIFAMILY INVESTMENT FORECAST
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LIVE WEBCAST • CRITICAL CHANGES. INTELLIGENT STRATEGIES. MULTIFAMILY INVESTMENT FORECAST
Fully Occupied Multifamily Properties Open Showing - Wednesday Sept 13th 12-2PM

Marcus & Millichap ARRANGES SALE OF a 24-UNIT APARTMENT property in Aurora, IL

 

AURORA, IL Apr. 24, 2019 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of a 24-unit apartment property located in Aurora, Ill., according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $1,650,000.

Randolph Taylor, an Associate, in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the local seller and also represented the 1031 exchange buyer.

Located at 1601-1603 Reckinger Road, the property consists of two adjacent 12-unit buildings. The unit mix is comprised of eight two-bedroom/one-bathroom units, 12 two-bedroom/one-bathroom with dining room units, and four one-bedroom/one-bathroom units. The property features tenant paid heat, central air conditioning, and electric hot water along with select units featuring in-unit laundry.

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About Marcus & Millichap (NYSE: MMI)

With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research, and advisory services. Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. 

 

 

Rent Control reduces the supply of rental units, increases prices for properties not covered and prevents those most in need from benefiting.

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Marcus and Millichap closes more real estate investment sales than any other brokerage firm—over 60% of which involve a 1031 Exchange. Our leading market position, coupled with extensive investor relationships, gives us access to the largest pool of qualified buyers, including exchange buyers.

We don’t just market properties; we make a market for each property we represent. Our innovative communications network (MNet) allows us to present your property to more qualified investors than any other Broker. The process is orchestrated to maximize a competitive bidding environment to proactively solicit higher sales prices for your property.

 

Contact Us – List Your Property

 

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2019 Multifamily Investment Forecast

2019 Multifamily Investment Forecast

Apartment Sector Sustains Positive Outlook;
Emerging Trends for 50 Metros Across U.S. and Canada

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