𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝗜𝘀 𝗘𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴
𝗝𝘂𝘀𝘁 𝗖𝗹𝗼𝘀𝗲𝗱: 𝟭𝟯𝟮𝟰𝟮 & 𝟭𝟯𝟮𝟰𝟮 𝟭/𝟮 𝗥𝗶𝘃𝗲𝗿𝘀𝗶𝗱𝗲 𝗗𝗿. | 𝗦𝗵𝗲𝗿𝗺𝗮𝗻 𝗢𝗮𝗸𝘀, 𝗖𝗔
𝗕𝗿𝗼𝗸𝗲𝗿𝗮𝗴𝗲: Equity Union
𝗧𝗲𝗮𝗺: Lucrum Real Estate Group
𝗔𝗴𝗲𝗻𝘁𝘀: Raymond A. Rodriguez | Matt Freedman
𝗖𝗹𝗶𝗲𝗻𝘁: Private Investor
Congratulations to our client. We are thrilled to announce the successful closing of value-added single-tenant retail at 13242 & 13242 1/2 Riverside Dr. in Sherman Oaks, CA. Our team had the privilege of representing the Seller in this transaction. We extend our gratitude to our client, a private investor, who entrusted us with this opportunity.
𝗦𝗮𝗹𝗲 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀:
+ Closed at 97% of the list price
+ All cash non-contingent offer
+ 17-day fast close
+ Closed at 3.80% cap rate
+ Month-to-month tenancy
+ ± 76% rental upside
+ Sold to an owner-user investor
𝗖𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲:
The property had been owned by the same family for 29 years. The rent was well below market and tenancy was month-to-month. The Seller’s priority was a stress-free closing that also provided a smooth transition for their long-term tenants. The challenge was to bring out the property’s full value while handling the tenant relationships with care and respect.
𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻:
Lucrum quickly identified key factors to secure the highest price and attract the ideal buyer. The property’s significant rental upside of approximately 76% and its month-to-month tenancy presented a compelling opportunity. This flexibility appealed to investors looking to increase rents to market levels, as well as owner-user buyers seeking a space for personal use. Additionally, the building’s floorplan—originally designed for two tenants—enhanced its versatility, making it even more attractive to both buyer types. By emphasizing these unique features, we positioned the property to maximize its appeal and value.
𝗥𝗲𝘀𝘂𝗹𝘁𝘀:
Our strategy delivered excellent results. We closed the sale at 97% of the list price in just 17 days, securing an all-cash non-contingent offer reflective of 3.80% Cap Rate. The property attracted an ideal Buyer—an owner-user investor who plans to utilize the space for their own business, unlocking the full potential of the property. Throughout the process, we prioritized clear and thoughtful communication with the long-term tenant, ensuring a smooth transition. By managing every detail with care, we not only delivered value to the seller but also ensured a positive outcome for all parties involved.
𝗠𝗮𝘅𝗶𝗺𝗶𝘇𝗲 𝗘𝘅𝗽𝗼𝘀𝘂𝗿𝗲 𝗖𝗮𝗽𝘁𝘂𝗿𝗲 𝘁𝗵𝗲 𝗕𝗲𝘀𝘁 𝗕𝘂𝘆𝗲𝗿𝘀, 𝗮𝗻𝗱 𝗚𝗲𝘁 𝘁𝗵𝗲 𝗛𝗶𝗴𝗵𝗲𝘀𝘁 𝗥𝗲𝘁𝘂𝗿𝗻 𝗼𝗻 𝗬𝗼𝘂𝗿 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁
Don’t settle for less. You deserve the trusted experts to sell your investment property with confidence and get the best professionally designed marketing assets and custom plans.
Contact Us. Once you schedule a call, you’ll have taken the first step to getting the quality representation you deserve.
𝗹𝘂𝗰𝗿𝘂𝗺𝗿𝗲.𝗰𝗼𝗺
