3915-3921 Belvieu Avenue: Multifamily Property Success Story

Multifamily Property Success Story Fully Occupied & Updated 42 Unit Apartment In Baltimore City

In a challenging scenario marked by bankruptcy, property condemnation due to fire damage, and pressing deadlines, Alex Cooper Real Estate Auctioneers demonstrated unparalleled expertise and efficiency. The sale of a 42-unit garden-style apartment complex in the Dolfield area of Baltimore not only met but exceeded expectations, thanks to the power of our bidding platform.

The Challenge Faced By The Seller

  • Bankruptcy: Financial distress threatened to complicate the property’s sale.
  • Condemnation: A portion of the property was condemned by city government following fire damage, potentially deterring buyers.
  • Urgent Deadlines: The need for a swift sale added pressure to an already complex situation.

The property, a 42-unit garden-style apartment complex located in Baltimore’s Dolfield area, had a gross potential annual rent of $428,400, based on full occupancy and a market rent of $850/month for each unit. However, the aforementioned challenges posed significant obstacles to realizing this potential.

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How Alex Cooper Auctioneers Helped

Alex Cooper Real Estate Auctioneers employed a multifaceted strategy to address these challenges head-on:

  • Rapid Auction Setup: Leveraging our vast experience and resources, we quickly prepared the property for auction, ensuring it was marketed effectively and efficiently.
  • Strategic Marketing Efforts: Our team crafted a targeted marketing campaign that highlighted the property’s value and potential, attracting a wide pool of potential buyers.
  • Expert Coordination and Negotiation: Seamless coordination with all parties involved, including city government officials and legal counsel, we navigated the complexities of the sale.

The auction was not only launched swiftly but also attracted substantial buyer interest, leading to competitive bidding that surpassed price expectations landing at $2,406,200. The cash buyer and drama-free closing highlighted Alex Cooper’s bidding platform’s ability to deliver exceptional results under challenging circumstances.