SUCCESS STORY
1031 Exchange Completed in Beverlywood
2009 Preuss Rd.
After closing his downleg, our client expressed interest in trading into a turnkey property. This off-market property was the perfect fit.
Offering Price
$4,170,000
City
Beverlywood
Current CAP
4.10
Price per unit
$379,091
Lot Size
8,685 SF
2009 preuss
About the Property
2009 Preuss Rd was an 11-unit investment opportunity located in the Beverlywood neighborhood (90034), within the West Los Angeles submarket.The property offers investors a unique and rare opportunity to acquire an investment property in one of LA's best rental markets with historically low vacancy and excellent long term appreciation. 8 of 11 units have been extensively renovated and include in-unit washer/dryers. All utilities are separately metered for gas & electrical services.
Offering Price
$4,170,000
Number of Units
11 Units
Bldg. Size
8,912 SF
Price per Foot
$468
Year Built
1957
Market CAP
N/A
Zoning
LARD1.5
Background
After we helped our client close his downleg in Jan. 2022, he expressed interest in trading into a premium turnkey property. We identified a property while it was off-market and knew we had the perfect fit. Located in the highly-desirable Beverlywood neighborhood, this stabilized property features a majority of extensively renovated units.
Result
Despite being in the pre-market phase, we secured the building. Escrow opened in Mar. 2022 and closed 30 days later at $4,170,000. Our buyer was thrilled with the acquisition in a high barrier-to-entry market. Beverlywood is one of LA’s top rental markets with historically low vacancy rates and excellent long-term appreciation.
