2620 E Northern Parkway
The Challenge
The owner of 2620 E Northern Parkway had a well-located asset in a high-demand area, but the property’s long-standing lower rents made it difficult to convey its full potential value. The owner was nervous that investors would submit lower offers based on the in-place rents, rather than recognizing the upside opportunity the property presented. The challenge was to demonstrate the true value of the asset without allowing the existing rent levels to overshadow its future revenue potential.
The Solution
Yaakov Kanevsky and the Midfield Realty team implemented a strategic marketing approach to highlight the property’s true income potential. Using their targeted marketing resources, including a social media network of over 16,000 followers, Midfield showcased the property as a high-yield investment opportunity. By providing clear market data, Midfield demonstrated a rent gap of over $300 per unit, emphasizing that minimal renovations were needed to achieve this upside. This strategy shifted the investor focus from past performance to future income potential, creating strong competitive interest in the property.
The Result
Through this data-driven and proactive strategy, Midfield Realty secured 25 competitive offers, ensuring a highly competitive bidding process. Importantly, there were no retrades after the inspection period, and the transaction proceeded smoothly to closing. The owner achieved a successful and stress-free sale, maximizing the property’s value while attracting serious buyers who recognized its full potential.
“Working with Yaakov and the Midfield Realty team was a game-changer. I was concerned that my property’s lower rents would lead to lower offers, but their strategic marketing approach completely shifted the conversation. They highlighted the true value of my asset, generated an incredible 25 offers, and ensured a smooth closing with no issues after the inspection. I couldn’t have asked for a better outcome. If you’re looking to sell a property and want a team that will maximize your value, Midfield Realty is the way to go!”
— Seller of 2620 E Northern Parkway
