Renovated unit at 1929 S Corning showing bright open layout with natural light.

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.

Offering Price
$2,357,000

City

Pico-Robertson

Current CAP

N/A

Price per unit

$392,833

Lot Size

N/A SF

1929 S Corning

Offering Price

$2,357,000

Number of Units

6 Units

Bldg. Size

6,440 SF

Price per Foot

$366

Year Built

1962

Market CAP

N/A

Zoning

N/A

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.

Renovated unit at 1929 S Corning showing bright open layout with natural light.
Renovated unit at 1929 S Corning showing bright open layout with natural light.
Renovated unit at 1929 S Corning showing bright open layout with natural light.

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.

Renovated apartment kitchen at 1929 S Corning with stylish wood cabinets.
Renovated apartment kitchen at 1929 S Corning with stylish wood cabinets.
Renovated apartment kitchen at 1929 S Corning with stylish wood cabinets.

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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.