SE 51st 4-plex
Affectionately known as Area 51, this property was listed, and working as the buyers agent, we had to await a response from the bank, via short sale. To no avail, by 2007, it was foreclosed upon. But with patience, we waited for it to come back thru the REO pipeline, it did, “we” got lucky, and the offer was accepted by the same bank for less, this time, $357,500. Prior to it’s vacant status, it was averaging $675 per unit per month in rent. After an aggressive remodel of all four units, it was achieving per unit per month over $1100!
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