Type: 7 Townhome Units
Acquired: December 2015
Sold: August 2016
Built in 2011, Harbor 7 was operated as apartments until acquisition. The building was on the market for over 300 days and placed under contract with two different buyers, both failing to close. Casey and Jason recognized the potential to subdivide the units and sell them as single-family townhomes in a fast-paced residential market.
After significant renovations that would allow the units to compete with new construction, the team hired a residential listing broker and implemented a strategic marketing plan; all seven units went under contract in the first 40 days and later closed at higher than initially projected prices.