Just Closed: 9 Units | Los Angeles, CA

Details

  • Price: 1,750,000
  • Cap Rate: 4.69%
  • GRM: 12.75
  • Cost per SF: $187.45
  • Cost per unit: $194,444
  • Year Built: 1939
  • Square Footage: 9,336
  • Lot Size: 12,090 SF
  • Units: 9
  • No. Stories: 2
  • Parking: 13
  • Transaction Type: Sold/Closed
  • Property Type: Multifamily
  • Zoning: LAC2
  • APN/Parcel ID: 6132-019-049

Just Closed: Casa Figueroa | Los Angeles, CA

Invest in Results

lucrumre.com

Agents: Raymond A. RodriguezMatt FreedmanScotty Weisstein

Team: Lucrum Real Estate Group

Highlights:

+ Exclusively listed, marketed & sold by Lucrum
+ Multiple offers generated
+ Sold at 97% of list price
+ 39% rental upside potential
+ Represented Both Seller & Buyer –  Lucrum Legacy Partners

Regardless of interest rates or market conditions, Lucrum continues to successfully help clients sell and buy investment real estate because we have our finger on the pulse of the market and properly advise our clients how to price and position their properties for sale to generate multiple offers and the highest possible value.

Congratulations to our valued clients on their latest acquisition of Casa Figueroa, a 9-unit multifamily investment property located at 12722 S. Figueroa St. in Los Angeles, CA 90061. Lucrum represented both the Seller and Buyer in this transaction.

The Seller, a Lucrum Legacy Partner, whom we have represented on multiple transactions contacted us to value, list, and market the property for sale. His motivation to sell was to proceed with plans to 1031 exchange into another opportunity.

We developed a marketing campaign that highlighted the investment’s value-add and rental upside potential and shared a custom website with interested parties that included marketing assets such as drone work, photography, video tour, 3D virtual tour, and offering memorandum. Through this process, we were able to attract the best buyers for the property and generate multiple offers for our client’s consideration to guarantee him the best price and buyer for the property.

The Buyer’s motivation has always been to add additional value-added assets to his real estate portfolio. He requested that we represent him and submit an offer on his behalf to purchase the property. He submitted the strongest offer with no loan nor appraisal contingencies and then accepted the Seller’s multiple counteroffer and terms for a sale.

We thank ALL involved that helped contribute to a smooth closing!

We love helping our clients accomplish their goals and improve their lives. Contact us and be a part of our next real estate success story!!!

 

Sales Team

Raymond A. Rodriguez IV

Founding PartnerMultifamily Investment Sales
866.582.7865 ray@lucrumre.com CA License: 01402283 Download Bio

Mathew Gates Freedman

PartnerCommercial Real Estate Sales
818.585.6888 matt@lucrumre.com CA License: 01487954 Download Bio

Scotty Weisstein

PartnerMultifamily Investment Sales
818.205.8847 scotty@lucrumre.com CA License: 01483264 Download Bio

Sales Team

Raymond A. Rodriguez IV

Founding PartnerMultifamily Investment Sales
866.582.7865 ray@lucrumre.com CA License: 01402283 Download Bio

Mathew Gates Freedman

PartnerCommercial Real Estate Sales
818.585.6888 matt@lucrumre.com CA License: 01487954 Download Bio

Scotty Weisstein

PartnerMultifamily Investment Sales
818.205.8847 scotty@lucrumre.com CA License: 01483264 Download Bio

Details

  • Price: 1,750,000
  • Cap Rate: 4.69%
  • GRM: 12.75
  • Cost per SF: $187.45
  • Cost per unit: $194,444
  • Year Built: 1939
  • Square Footage: 9,336
  • Lot Size: 12,090 SF
  • Units: 9
  • No. Stories: 2
  • Parking: 13
  • Transaction Type: Sold/Closed
  • Property Type: Multifamily
  • Zoning: LAC2
  • APN/Parcel ID: 6132-019-049

Similar Posts

Biden Proposes Rent Caps on Corporate Landlords to Lift Affordable Housing

Market News

Amid growing concerns over escalating housing costs, President Joe Biden has called … Continue reading Biden Proposes Rent Caps on Corporate Landlords to Lift Affordable Housing

Read more

Top Economic Officials Deliberate Rate Cuts: A Renewed Dispute

Market News

The Federal Reserve and its top economists are showing renewed interest in … Continue reading Top Economic Officials Deliberate Rate Cuts: A Renewed Dispute

Read more

Why Multifamily Costs Are Surging: Factors Beyond Just Insurance

Market News

In 2024, multifamily property owners grapple with escalating expenses, which are outpacing … Continue reading Why Multifamily Costs Are Surging: Factors Beyond Just Insurance

Read more

Gain Valuable Insight

You need to be informed about changes in legislation, economic developments, and current events to protect your interests and assets.

SUBSCRIBE NOW