JUST SOLD! Victorian Era Ogden Duplex
Published On: October 4, 2018 Posted by: Jeremy Peterson
We just closed on the sale of this starter investment property located at 2032 Jefferson Ave. in Ogden. The property is an 1890’s home that was subdivided into two 1 bedroom units. The property was listed for sale for $129,000 on account of the property’s old age and its very small size at just 1250 SQFT.
We received five competitive written offers on the property and several verbal low-ball offers. The highest offer received was $140,000. No showings were permitted on this property on account of the tenants who occupied it at the time. So, the offers were mostly blind.
Most of the offers were from Salt Lake City agents representing out-of-area clients. One offer was from a local investor who was familiar with the property and the seller. Ultimately, the seller opted to engage the local investor because of their relationship. He felt that the transaction would be less adversarial and the buyer’s familiarity with the property would make the transaction much smoother.
Indeed, that is what happened. The buyer did a cursory walk through of the property, ordered the appraisal, and closed without much hassle at $129,900.
Congratulations to our clients! If you are looking to sell your income property, CONTACT ME, and let’s discuss how we can get you top market value for your property.