Just Closed: The Collection in San Fernando | San Fernando, CA
Invest in Results
Agents: Raymond A. Rodriguez | Matt Freedman
Team: Lucrum Real Estate Group
Highlights:
+ 5-Day fast close
+ Represented the Seller & Buyer
+ Closed at 94% of the list price
+ Seller Financing
+ Non-contingent offer
+ Maximum allowable annual rental increase of 8.8% per AB 1482
+ 2 adjacent parcels | duplex & triplex
Congratulations to our valued clients on the successful closing of The Collection in San Fernando, a 5-unit multifamily/residential investment property located at 452-470 Chatsworth Dr., San Fernando, CA 91340. Lucrum Real Estate Group represented both the Sellers and Buyers in this transaction.
The Seller’s motivation to sell was to complete a Reverse 1031 Exchange. Since The Collection functioned as the down-leg to a Reverse 1031 exchange and had no debt, the Sellers were able to offer seller financing and tailored the terms to meet the customized needs of both the Seller and Buyer, ensuring a win-win situation for both parties and achieving an excellent sale’s price for the property.
We closely collaborated with the Seller to diligently craft and execute a tailored marketing strategy. This comprehensive approach involved meticulous circle prospecting, targeted e-blasts, thoughtfully designed postcards, strategic listings on multiple platforms, and the creation of a dedicated property website to showcase the unique attributes of the property. The success of this collaborative effort underscores Lucrum Real Estate Group’s commitment to ensuring a seamless and effective sales process.
The property sale was a significant success, with a closing timeline of just 5 days and a remarkable achievement of selling for 94% of the listed price. With the Buyer’s unwavering commitment, we were able to proceed and open escrow with a non-contingent offer making this transaction both swift and secure. Additionally, the transaction aligns seamlessly with the Buyer’s value add plan as current rental legislation, AB 1482 in the city of San Fernando currently allows for a maximum annual rental increase of 8.8%. Further enhancing the property’s appeal are its two adjacent parcels, housing both a duplex and a triplex, providing a diverse and promising investment opportunity for the future.
Representing both sides of this deal has been an absolute pleasure. We extend our sincere appreciation to both parties for their trust and cooperation, which made this transaction possible.
At Lucrum, we know that selling apartment buildings can be a headache-filled experience without the right guide. We believe every investor deserves professional guidance to ensure positive results, so we provide the experience, strategies, services, and platforms that help investors simplify selling while getting the most value for their properties!
We thank all those involved who contributed to this closing!
Contact us to simplify selling or buying and become a part of our next success story. We love helping our clients accomplish their goals and would value the opportunity to earn your trust and business.
