PRIME DEAL
Price Hill complex bought for $1.25M
Thursday, November 19, 1998 >
A look at a notable real estate deal in the Tristate:
Transaction: Price Hill Apartment building sold to investor.
Price: $1.25 million.
Buyer: Madi Inc. (Hungry Dog Enterprises Inc.).
Seller: James Robertson.
Listing broker: Stephen Turman, Re - Max Greater Cincinnati Commercial Group.
Buyer's broker: Mark Roth, Huff Realty.
Property description: Sunset Villa Apartments, 1751 Gilsey Ave., is a 57-unit complex of one-bedroom apartments at the corner of Sunset and Gilsey avenues.
Behind the deal: The seller wanted to look for a newer, larger complex with tenant-paid heat. The buyer needed to complete a 1031 tax-deferred exchange from the sale of a small retail center. Madi Inc. plans to cosmetically upgrade the property.
Perry Brothers covers commercial real estate and compiles Prime Deal weekly for the Enquirer. She can be reached at 768-8503.
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