SUCCESS STORY
Toluca Lake Fourplex Sells at Full Asking Price
10644 Bloomfield Street
The sellers were thrilled with the speed of the sale process, taking only 50 days from signing the listing to close of escrow.
Price
$
1,650,000
City
North Hollywood
Current Cap Rate
3.70
%
Price P/ Unit
$
412,500
Lot Size
5,063
SF
10644 bloomfield
Price
$
1,650,000
City
North Hollywood
Current Cap Rate
3.70
%
Price P/ Unit
$
412,500
Lot Size
5,063
SF
Background
The seller owned this well-maintained fourplex in a prime location of Toluca Lake, minutes from the North Hollywood Arts District, for over 50 years. After owning the building for all these years, the Sellers wanted to trade into a property closer to their new location.
Result
Max sourced a qualified buyer who submitted at full asking price before the property hit the MLS. The sellers were thrilled with the speed of the sale process, taking only 50 days from signing the listing to the close of escrow. They are trading into another property in Orange County, and the buyers are going to renovate the building over time to capture the significant upside.
