I don’t know, but somebody coming out of a 1031 exchange would find it attractive.
Think if you inherited an 8-plex and traded straight across? It would feel like a free oceanfront property, and you could probably get $6,000 to $8,000 per month for a year before you moved in.
Do you know if this was this sold as a rental? Must be nice to have that much cash to park at the beach!
I don’t know, but somebody coming out of a 1031 exchange would find it attractive.
Think if you inherited an 8-plex and traded straight across? It would feel like a free oceanfront property, and you could probably get $6,000 to $8,000 per month for a year before you moved in.
Maybe it was bought by a flipper.
It’s not out of the question, but major cajones needed.
Last month one closed down the street for $8,500,000, and there’s another one pending that’s listed for $10M+.