SUCCESS STORY
$392K PPU Sale in Pico-Robertson
1929 S Corning St.
Within two months of marketing the property as an off-market listing, we identified a buyer who closed at $392K per unit in Pico-Robertson.
Price
$
2,357,000
City
Pico-Robertson
Current Cap Rate
N/A
%
Price P/ Unit
$
392,833
Lot Size
N/A
SF
1929 S Corning
Price
$
2,357,000
City
Pico-Robertson
Current Cap Rate
N/A
%
Price P/ Unit
$
392,833
Lot Size
N/A
SF
Background
The Seller owned this well-maintained 6-unit property located South of the historic neighborhood of Pico-Robertson (just 1 mile South of Pico Blvd. and Robertson Blvd). Exhausted by property management headaches and having uncertainty around the Los Angeles multifamily market the Seller was looking to trade into an alternative asset that would allow her to take a "hands-off" approach.
Result
Within two months of marketing the property as an off-market listing, Max generated an appealing offer from our network of savvy multifamily investors. The Seller accept an offer at $2.357M and escrow closed at the end of September. At $392,000 per unit and $366 per foot, the sale of 1929 S. Corning ranks relatively high when compared to similar properties in Pico-Robertson.
