In an REO sale, California-based Strategic Realty Capital acquired the 160-unit Cheyenne Woods Apartments in North Las Vegas for $4.5 million, or $28,125 per unit. The complex was approximately 86 percent occupied at the time of sale. The multifamily property at 3417 E. Cheyenne Ave. consists of 85 one-bedroom, one-bath units; 60 two-bedroom, two-bath units; and 15 three-bedroom, two-bath units, with sizes ranging from 650 to 1,090 square feet. Amenities include a pool, spa, and laundry facilities. Neil Sorkin, Scott Kendrick, and Mike Hillis of Commerce Real Estate Solutions represented the seller, Kaplan Management Company. The buyer was represented in-house.
Q: I just heard Ilyce on the radio talking to a listener about a house he was purchasing from his parents. She said that he would have to pay private mortgage insurance (PMI) if the appraisal came back and showed he was above the 20 percent equity threshold.Hoping to reduce its inventory of distressed properties, the Federal Home Loan Mortgage Corp., commonly known as Freddie Mac, hosted about 300 South Florida real estate agents at two events this week to give them tips on selling government-owned homes.
The events, which took place Thursday and Friday in Miami Springs and Davie, highlighted South Floridas distressed home market, where some 40,000 homes are owned by lenders and many more are in the foreclosure pipeline.
Freddie Mac, along with its larger sibling Fannie Mae, is looking to help more struggling homeowners sell their homes for less than what they owe rather than go through Floridas prolonged foreclosure process.
Dublin Ranch Village real estate includes condos nestled in the eastern hills of the Dublin Valley in distinctively styled clusters known as The Cottages, The Villas, The Terraces and The Courtyards.