Business
Ever heard of a three-story, five-bedroom, four-bathroom multifamily urban rental townhouse with a two-car garage? That’s exactly the kind of property that features in a new 15-unit development in Montebello, California. In this interview with Dan Handford, multifamily expert, Scott Choppin, founder of the Urban Pacific Group of Companies, explains why this one-of-a-kind property class is strategically positioned to succeed in the California real estate market even as an economic downturn looms over. Scott sees his urban townhouse model as a disruptor in the multifamily real estate market, targeting an underserved market of large, extended families that has long existed in the state. In this conversation, he explains the acquisition, due diligence and development process and how it has been affected by the COVID-19 pandemic.