Las Vegas, NV – November 17th, 2016
Crystal View Capital Fund I, LLC is pleased to announce the sale of 2910 Seaboard Lane in Long Beach, CA. This property was a 14,200 square foot tilt up concrete industrial building. 2910 Seaboard provided a unique opportunity to take advantage of buying right and capitalizing on the limited supply in the Los Angeles/Long Beach industrial sub-market.
“I would best categorize our Fund as opportunistic. This sale fits that mold – we could achieve substantially higher returns for shareholders by flipping this property vs. leasing it and keeping it in the portfolio. When you buy right… a lot of good things can happen from there. We are very pleased with the return on this transaction,” said Matthew Ricciardella, Managing Partner at Crystal View Capital.
Occupancy: Vacant at closing.
Purchase Price: $1,800,000 or $126 per sq ft.
Sale Price: $2,230,000 or $157 per sq ft.
Net Profit after Selling Costs: $320,711
Holding Period: 4 Months
Improvements Made: Fresh paint and new landscaping.
Las Vegas, NV – September 6th 2016
Crystal View Capital Fund I, LLC is pleased to announce the sale of .89 acres for $630,000 located at the NW corner of Sahara & Eastern Ave in Las Vegas, NV. “We purchased this property in 2014 for $200,000 and invested an additional $25,000 to re-zone the parcel from Residential to General Commercial. Due to the re-zone, and because the market has risen considerably since acquisition, it was an opportune time to liquidate this asset from our portfolio. After selling costs, our shareholders will realize an approx. $362,200 net profit, or a 55% Return on Investment (ROI). Our plan remains the same – we shall continue to shed smaller assets and trade up into larger properties, which will increase the overall yield of the portfolio and the share value.”