A view of an apartment building entrance at 8135 reseda, with a red railing and a walkway leading to the front door.

SUCCESS STORY

San Fernando Valley Portfolio Sold in 4 Months

8135 Reseda Blvd.

After generating 5 offers, we entered escrow with a full-ask buyer. But, the buyer requested a $500K reduction; and we advised going back to market.

Offering Price
$2,325,000

City

Reseda

Current CAP

5.95

Price per unit

$232,500

Lot Size

8,502 SF

8135 reseda

About the Property

Built in 1981, 8135 Reseda was a 10-unit complex that is not subject to City of LA RSO (AB-1482 - Costa Hawkins Act). 8135 Reseda was offered at $250,000 per unit, $271 per foot, and 12.82 GRM on current rents. This value-add opportunity presented approx. 35% rental upside, and a future investor has the opportunity to reach a 7.50% CAP and 9.50 GRM, by achieving projected market rents for renovated units in the area.

Offering Price

$2,325,000

Number of Units

10 Units

Bldg. Size

9,214 SF

Price per Foot

$252

Year Built

1981

Market CAP

8.10

Zoning

LAR3

Background

After decades of ownership, the Sellers of this 2-property San Fernando Valley portfolio were ready to move on. Managing both buildings had become increasingly burdensome due to mounting deferred maintenance, and it was time to simplify. Referred to the Kenny Stevens Team by their trusted residential agents in the South Bay, the family hired our team to lead the sale of both properties. We launched marketing with a clear strategy, highlighting the financial strength of the deals and affordability relative to other LA submarkets. Our first campaigns generated over 5,500 email opens and more than 250 marketing package views per property, sparking quick buyer interest.

A view of an apartment building entrance at 8135 reseda, with a red railing and a walkway leading to the front door.
A view of an apartment building entrance at 8135 reseda, with a red railing and a walkway leading to the front door.
A view of an apartment building entrance at 8135 reseda, with a red railing and a walkway leading to the front door.

Result

After generating five offers, we entered escrow with a full-ask buyer. But deferred maintenance reared its head again, and the buyer requested a $500,000 price reduction. With time ticking on the Seller’s exchange, she considered accepting. Instead, we advised relaunching. After private tours and best-and-final offers from multiple groups, we secured a buyer at a price $200,000 higher than the original counter. Most importantly, we closed in time to complete our client’s DST exchange. From start to finish, the entire portfolio sale took four months, highlighting how having the right experience on your side can make all the difference.

Aerial view of a multifamily building at 8135 reseda, with palm trees and parking spaces in the foreground.
Aerial view of a multifamily building at 8135 reseda, with palm trees and parking spaces in the foreground.
Aerial view of a multifamily building at 8135 reseda, with palm trees and parking spaces in the foreground.

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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.