After months of negotiation and due diligence, Attorney Kuldiner facilitated the of a multi-family property or his client, valued at $1,365,000. This real estate transaction involved a 28 unit apartment community located in the Greater Northeast Philadelphia area, and is known as Lawndale Apartments. This property is in a great location within walking distance of a commercial district off Rising Sun Avenue and nearby Naval Support Station, which employs many individuals in the area.
Mr. Kuldiner worked with the diligent and thorough advisors of Rittenhouse Realty who noted the capacity for many profitable changes. Managing Partner Ken Wellar noted the “great upside potential” of this property. Lawndale Apartments is of course a residential property in a diverse community of varying property types. Right now, the rental market is doing very well in this area of the city. There is great opportunity for both the buyer and the surrounding community.
Lawndale Apartments is comprised of multiple buildings, constructed in 1925, 1955 and 1960. There are twenty-four one-bedroom units, and four two-bedroom units with an adjacent lot for parking onsite. Because of the many possibilities, Mr. Kuldiner’s client and new owner has exciting plans to implement cosmetic updates which will facilitate collection of higher rents.
The buyer is extremely pleased with the result and excited to contribute to the continued growth of the surrounding community. Attracting new residents with higher income means good things for the local real estate landscape. We are pleased to have helped our client meet his goals and provide fabulous housing for the new future of this neighborhood.
Retaining an attorney for this or other real estate transactions alleviates many of the known (and of course, the unforeseen) difficulties that occur within complex deals. Tax laws, government regulations and environmental implications can stall a project or ambition of any buyer or seller. Attorney Kuldiner has extensive experience in real estate matters, particularly in representing buyers of large properties and commercial transactions. The Law Offices of Michael Kuldiner, P.C. can do the “dirty work” of ensuring that a client is getting the best deal possible, and that all considerations are favorable and fair.
To discuss your real estate matter with Bucks County real estate attorney, call (215) 942-2100 today. Feel free to submit an inquiry form and a member of our team will contact you to schedule a consultation.