Let us show you how we’ve helped other clients realize their vision. At Bella Grande Properties, we’re known for our tenacity and for handling every detail of every transaction, so you don’t have to!
Multi-family: 8-plex 148th Ave. Portland OR
One example of how our expertise pays off in significant ways to our sellers is illustrated by this recent multi-family transaction that Maria Skipper, Bella Grande Properties Principal Broker, facilitated. Maria represented the sellers exclusively throughout the conveyance of this 8 unit property.
An acceptable offer was secured and the buyer’s lender ordered an appraisal on the property. The appraisal came back $170,000 under the contact price. The buyer wished to renegotiate down to the current appraisal value. After much discussion, Maria advised the sellers that since they owned the property free and clear, they could offer contract terms to a qualified buyer. Furthermore, she advised them that the buyer must have a large down payment in order to be considered, so that a significant sum of money would be forfeited if they defaulted on the installment note.
This strategy enabled us to combat a low appraisal of $510,000 and we secured an owner contract to sell the 8-plex for a grand total of $645,000.
Airport Home: Historic Sandy McKinnon Airport
At Bella Grande Properties we represent luxury home buyers in residential and commercial transactions.
Maria Skipper represented The Eclectic Institute in the acquisition of the McKinnon’s Airport located in Sandy, OR. The 73 acre airport came complete with 3 legally established dwellings, a large barn, and a 10,000 SQFT hangar. This property has had a rich history in aviation dating back to the renowned McKinnon Enterprises where Mr. McKinnon converted the engines and re-engineered the design of the Widgeon and Goose Seaplanes to higher safety standards and performance capabilities.
The owner of Eclectic Institute recognized a twofold benefit to owning this nostalgic property. First, the 10,000 SQFT building could house Eclectic Institute’s manufacturing site, inventory storage needs, and provide an adequate office space for his 40+personnel. This purchase would also release the company out from underneath an $8000/month lease on a building in Sandy, and allow them to start building equity in this unique piece of real estate. Second, the 1928 Historic Roslyn Lake Lodge had been restored to a residence and would provide a wonderful place to call home for the owner of Eclectic Institute.
Challenge:
It was determined that a zoning change would be necessary in order for Eclectic Institute to conduct their usual business operations on the property. McKinnon’s airport was zoned Timber and the county would have to agree to a zone change to Ag/Forest in order for light manufacturing to take place at the facility. “There were a lot of moving parts to this transaction” said Buyer’s Agent Maria Skipper. “We had to ensure that the buyer had a solid agreement with the seller while the zone change application, was in process but also had to maintain an “out” if the county did not rule in favor of it. The seller wanted to close “yesterday” if you know what I mean…so it was a constant battle to manage expectations and set the stage in my clients favor. However, we were able to negotiate a “floating contingency” period for the buyer which protected his $20,000 earnest money during the extended due diligence period that the seller and her representation reluctantly agreed to. Furthermore, we were able to ensure the property was in pending status – so basically off the market – while the zone change was being pursued, which further protected the buyer’s interest in the transaction.”
After an 8 month period of applications and public hearings with Clackamas County a favorable notice of decision was received. Eclectic Institute obtained a conditional approval to conduct their business activities in the hangar and a zoning change was granted.
McKinnons Airport was originally offered at $2,995,000, but the buyer was able to purchase the property for a mere $1.9 million with the representation of Principal Broker, Maria Skipper. She said: “The seller’s attorney Warner Allen and her realtor Tony Polito, and Eclectics Chief Operations Officer, Mark Oppenheimer, were also great assets to facilitating this endeavor. We all worked together for months on end and I am pleased to say, although there was a constant push and pull for leverage and positioning, we were all respectful of each other, and with the use of a collaborative negotiation style, a successful close was attained.
The airport was a restricted use airport registered with the FAA.
Maria Skipper values long-term working relationships with her clientele. Ten years after she represented Eclectic Institute in the purchase of the private airport estate, she again represented them in the conveyance of the property to a new proud owner. A comprehensive marketing strategy was employed by Bella Grande Properties to market the property in four property categories for maximum-targeted exposure.
1. Commercial/Industrial
2. Airport properties
3. Multi-family properties
4. Residential and Farm properties
Maria had the pleasure of representing the principal parties in the sale of the Historic McKinnon’s Airpark Estate yet again in April of 2021. It resold for $2,800,000.
We Did It For Others, Let Us Turn Your Vision Into a Reality
Whether it’s residential or commercial, in town or a little further out, the ordinary or the specialized like airport homes and even aviation facilities,
Bella Grande Properties is there for you to professionally handle every detail from expert marketing and promotion to closing paperwork.
Call us today to get started, 503-351-4101.
