2338 Franklin Ave

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Sale Price: $2,975,000

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Sale Summary

A record off-market sale was achieved for a non-renovated property in Eastlake, with each unit selling for nearly $500,000. The property was sold pre-marketing to a 1031 exchange buyer who expressed strong interest and made an above-market offer. Despite initial plans for a full marketing campaign, the buyer performed and waived due diligence, resulting in a smooth transaction without the need to take the property to market. The sale price of $496,000 per unit set a new record for non-renovated properties in Eastlake.

Case Study

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Testimonial

“Matt and the Team were instrumental in helping us navigate a challenging sale and a 1031 exchange into our first apartment building purchase. He brought us an excellent off-market deal before it came to market and guided us through the offering, due diligence, and closing processes with expert advice, intentionality, and patience. He continues to be a great resource to us as we own and operate our new building.”

– Seller