Significant Sales - February 2024
816 NE 87th Ave. Within walking distance of Peace Health. Sea Mar Community Health
expanded it’s Clark County Footprint. By acquiring this 6156 Sf building for $1,460,000. It was the highest price in the entire county.
Congrats to Brett Irons of the Fuller group as the listing broker. Ave
There were a couple of properties that traded in the CBD area.
The first 2209/2213 Main in Uptown, long-time home of Harry’s locksmith, and the current home to Pie Hole Pizza.
The two buildings combined are 2828 SF. The significant point of this sale was the Price per square foot, $ 335.00.
Congrats to Mike Walling of City Commercial for
securing both the listing and the Buyer.
This Significant sale was not completed in Clark County, but in Portland, Oregon. It sets the stage for creating a new real estate ownership paradigm for a broad range of lower-income tenants to convert to property ownership.
John Laine, a long-time real estate investor, is focusing on the problem of a huge lack of affordable housing. While there are plenty of apartments being built, there are few in the “ affordable range.” He aims to find apartments that he can purchase or convert to condo ownership at market rates that make their payments equal to or possibly just slightly above their current rent payment. An entire new market of people will be able to experience the benefits of real estate.
The big four are more stable payments, equity growth through paying off their mortgage, tax benefits, and inflation protection. Even a 400 to 600 SF apartment/condo unit would generate a significantly improved financial position over a very short ownership period versus rent payments and having nothing to show. John’s team, Campus Condo LLC, acquired the property in February and is in the midst of the conversion project.
