IPG Encourages 1031 Exchange Program and Sells 51 Unit At Top Price
Anaheim, California– Investment Property Group is pleased to announce the sale of The Atrium Gardens, an immaculately maintained 51-unit complex located in Anaheim. The property sold for $244,000 per unit, making it one of the highest prices per unit sale in Northern Orange County.
The seller, an independent investor, employed IPG in order to take advantage of their unique and proven 1031 Tax Deferred Exchange Program. “Our structured program minimizes the risk that most property owners associate with locating the “upleg” property, by not only making “value” a priority, but also timing,” states IPG founder, Gary Tolfa. Approximately 80% of IPG’s over $255 million of 2015 closings involved a 1031 Exchange.
The buyer, Jerry Marcil, of Palos Verdes Investments not only cooperated with the seller’s long escrow requirements but performed as contracted.
As of the timing of this article, the seller has closed 54 Units in Buena Park, taking him half way to his goal of doubling his portfolio of units owned and significantly increasing his after-tax cash flow by as much as 80-90%.
Investment Property Group is the leading seller of 40-100 unit apartment properties in Orange County and south Los Angeles County since 2013. IPG has offices in Irvine, Phoenix and Torrance.