Multifamily property at 1411 Federal featuring Front corner exterior of  building with address signage.

SUCCESS STORY

10-Unit Value-Add Sale near Sawtelle

1411 Federal Ave.

After owning this property for two decades and hassled by property management headaches, the Seller brought KST onto the listing to get the job done.

Offering Price
$2,950,000

City

West Los Angeles

Current CAP

N/A

Price per unit

$295,000

Lot Size

7,000 SF

1411 federal

About the Property

1411 Federal Ave was a well-maintained property in a prime West Los Angeles location, 2 blocks east of Barrington Avenue and just south of Wilshire Boulevard. Minutes from Brentwood, Santa Monica, Westwood, and Century City, the property was composed of (2) 2-bdrm. units, (4) 1-bdrm. units and (4) studio units with approx. 60% rental upside. Additional property amenities/upgrades included a new roof install approx. 10 years ago and approx. 6 parking spaces.

Offering Price

$2,950,000

Number of Units

10 Units

Bldg. Size

4,872 SF

Price per Foot

$606

Year Built

1933

Market CAP

N/A

Zoning

LAR3

Background

This value-add ten unit property is located in a premier West Los Angeles pocket, minutes from Brentwood, Westwood and Santa Monica. After owning this property for nearly two decades and being hassled by property management issues, the Seller brought Kenny Stevens Team onto the listing to help him get the job done.

Multifamily property at 1411 Federal featuring Front corner exterior of  building with address signage.
Multifamily property at 1411 Federal featuring Front corner exterior of  building with address signage.
Multifamily property at 1411 Federal featuring Front corner exterior of  building with address signage.

Challenge

Despite the significant financial upside and proximity to a large-scale transit development (Metro Purple Line), potential investors felt the price per unit was steep due to low rents and length of tenancy for a majority of the units.

1411 Federal with Side courtyard of  with patio seating and stair access.
1411 Federal with Side courtyard of  with patio seating and stair access.
1411 Federal with Side courtyard of  with patio seating and stair access.

Result

After marketing the property for one month, Kenny generated 4 offers and identified a well-qualified buyer who saw the long-term upside in the property. Escrow open in late October and closed 45 days later at $2.95M. Ultimately, the Seller was relieved to finally get the deal closed, having minimal success prior to bringing on KST’s multifamily expertise.

1411 Federal with Rear courtyard view of  with gated entries.
1411 Federal with Rear courtyard view of  with gated entries.
1411 Federal with Rear courtyard view of  with gated entries.

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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.