Exterior entrance and sidewalk at 11915 Goshen multifamily.

SUCCESS STORY

1031 Exchange Completed in Brentwood

11915 Goshen Ave.

After opening escrow on her NNN upleg property in the Pacific Northwest, our client contacted us to help complete the exchange on time.

Offering Price
$3,100,000

City

Brentwood

Current CAP

3.96

Price per unit

$387,500

Lot Size

7,875 SF

11915 goshen

About the Property

11915 Goshen was an 8-unit value-add property located in the heart of Brentwood, a highly-desirable West LA rental market under constant demand by high-income young professionals. Located 1 block north of Wilshire Blvd, the subject property offered a short commute to some of the Westside's most popular and trendy hotspots. Popular destinations include Brentwood Village, Brentwood Country Mart, The Getty, trendy restaurants along San Vicente Blvd, and convenient access to the 405 Freeway.

Offering Price

$3,100,000

Number of Units

8 Units

Bldg. Size

5,639 SF

Price per Foot

$550

Year Built

1958

Market CAP

5.3

Zoning

LAR3

Background

Located in the heart of a premier Westside rental market, this value-add property featured approx. 23% rental upside and several renovated unit interiors. After opening escrow on her NNN upleg property in the Pacific Northwest, our client contacted us to help complete the exchange on time.

Exterior entrance and sidewalk at 11915 Goshen multifamily.
Exterior entrance and sidewalk at 11915 Goshen multifamily.
Exterior entrance and sidewalk at 11915 Goshen multifamily.

Challenge

We listed the property in early August (while interest rates were around 4.75%), and investors were watching from the sidelines. With several weeks left on the seller’s exchange, Kenny had to identify an all-cash exchange buyer who could close quickly.

Long driveway view along the side of 11915 Goshen.
Long driveway view along the side of 11915 Goshen.
Long driveway view along the side of 11915 Goshen.

Result

Kenny identified an exchange buyer who submitted an all-cash non-contingent offer as the deadline approached. Ultimately, the deal closed seven days later at $3,100,000; all parties were relieved that KST could get the deal done in such a volatile market. The seller was satisfied with her completed 1031 exchange, and the buyer is eager to begin renovations on a hidden gem in the heart of Brentwood.

Wide-angle view of covered parking area at 11915 Goshen.
Wide-angle view of covered parking area at 11915 Goshen.
Wide-angle view of covered parking area at 11915 Goshen.

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Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.