1592 Alexandria Drive, Lexington

Just Listed

This property was foreclosed upon by the lender. It had been terribly mismanaged. During the foreclosure process the California Bank had engaged a local brokerage firm to manage it.  The Bank had a policy that prohibited them from marketing it for sale.  Because of a long standing relationship, the firm recommended to the Bank that Sperry Van Ness be considered for the job.  We were asked to submit a Broker’s Opinion of Value which was completed and forwarded to them.  After clearing the title, the Bank listed the property.  It is a 15 unit apartment with 8 car basement garage and in a desirable location..  The property is in good condition but has high vacancy.  It is being marketed as an opportunity for a value-add buyer to profit by re-positioning the property.


Posted on

January 8, 2014