Selling a Multi-Family in Davis Square

If you are thinking of selling your multi-family close to Davis Square, understand there are a number of factors that you are going to have to consider that will have a direct impact on how much you sell for, how quickly you sell and how strong your terms are (which tie into your ultimate sales price and how quickly you sell!). So let’s get into a few key considerations:

First, are your units tenanted or vacant or owner occupied? If the units are tenanted, do we sell the property vacant or do we sell the property with the tenants in place. 

Next, if there is a lease or tenancy at will in place, are the rents below market, at market rate or above market? 

Next, are the units in poor condition, OK condition or great condition? Depending on the condition of the unit we may want to consider work on the units to ensure we get the highest price possible.

What about the proceeds from the sale? Many times when I work with a seller they are thinking about a 1031 exchange to reduce their capital gains and depreciation recapture liabilities. 

What about a condo conversion? Somerville has a somewhat complicated condo conversion rule and how we navigate this process matters, if the numbers work out where a condo conversion could make sense.

As you can see, there are a lot of variables and each one ties into the other. My goal is to take this mish mash of variables and help you determine what is going to give you the best blend of your highest price, best terms, quickest sale and smoothest sale? There is no one answer that fits all for this stuff, but through a conversation I consistently have helped clients get to a great outcome. If you are curious to take the plunge, give me a call at 617-833-7457 to discuss next steps!