𝗜𝗻𝘃𝗲𝘀𝘁 𝗶𝗻 𝗥𝗲𝘀𝘂𝗹𝘁𝘀

𝗝𝘂𝘀𝘁 𝗖𝗹𝗼𝘀𝗲𝗱: 2 Buildings | 41 Units | Los Angeles, CA | The Victorian on 3rd

𝗕𝗿𝗼𝗸𝗲𝗿𝗮𝗴𝗲: Equity Union

𝗧𝗲𝗮𝗺: Lucrum Real Estate Group

𝗔𝗴𝗲𝗻𝘁𝘀: Raymond A. Rodriguez | Matt Freedman

𝗖𝗹𝗶𝗲𝗻𝘁: Family Office

Congratulations to our client. We are thrilled to announce the successful closing of another multifamily investment property located at 1901 W. 3rd St. and 1913 W. 3rd St. in Los Angeles. Matt Freedman and Ray Rodriguez of Lucrum served as the exclusive listing agents for the Seller and secured a closing price at 98% of the list price.

Highlights:

+ Exclusively listed | Represented the Seller
+ Closed at 98% of the list price
+ Agency debt financing
+ Portfolio sale: 2 separate properties sold individually to 1 buyer
+ 1901 W. 3rd St. sold at $4,950,000
+ 1913 W. 3rd St. sold at $1,220,000
+ Two adjacent buildings & lots on a signalized corner

Problem:

The Seller had been let down by another brokerage team that could not deliver results, leaving the property unsold and expectations unmet, ownership turned to us for help. They realized it was time for a change and they needed expert guidance to get the results they wanted.

Solution:

We repriced and rebranded the property with a fresh look to be more competitive with the market and built a dedicated property website that included a detailed offering memorandum, executive summary, virtual Matterport tour, drone assets, and professional photography and videography to maximize visibility and make understanding the property’s benefits and full potential easy for qualified buyers. Our sales actions included circle prospecting, e-blasts, direct mail campaigns, and strategic placement on multiple listing services and social media platforms.

Results:

These efforts ultimately led to attracting the best buyer for the asset, a well-qualified 1031 exchange Buyer represented by another broker. We worked hand in hand with the buyer’s broker and lender to help ensure that both his bank financing and property insurance were locked in. This was crucial for keeping the process on track and stress-free for everyone involved.

We are proud to share that this portfolio sale established new impressive sale metrics for the zip code on a cost per unit and cost per square foot, reaching new highs for any comparable building of vintage and unit mix sold in the last several months.

Want The Sales Results & Peace of Mind You Deserve?

When it comes to buying or selling income property, you deserve a team of experienced professionals who will manage every detail with care. We’ll streamline the sales process to make it as straightforward as possible for you.

Partner With an Experienced Team that Values Trust and Integrity

Don’t settle for less. At Lucrum, we can help guide you through a simplified sales process. Our full-service team will make sure every detail is flawlessly executed so that you don’t have to worry about anything.

Success Starts with Taking the Right Action

Contact us today. Let’s work together to make your property our next success story.

– lucrumre.com