Sale Price: $5,600,000
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In a challenging timeframe during the seasonal slowdown, our team successfully identified a 1031 exchange property for our client within 30 days. Despite the limited options available during the holiday months, we utilized our extensive database of owners in Snohomish County to contact potential sellers. Fortunately, we connected with an owner in the process of liquidating their portfolio, who happened to have a suitable property for our client’s exchange. Negotiations, pricing, and terms were agreed upon, and we entered into a contract before the end of the year. The inspection period proceeded smoothly, allowing the transaction to close within the 1031 exchange period. Our client was delighted with the deal and had plans to renovate the property to increase rental rates.