SUCCESS STORY
New Construction Sale Sets East Hollywood PPU Record
943 N Oxford Ave.
At $854,000 per unit, the sale of this new construction project in East Hollywood sets a price per unit sales record.
Price
$
9,400,000
City
East Hollywood
Current Cap Rate
N/A
%
Price P/ Unit
$
854,545
Lot Size
17,161
SF
943 n oxford
About the Property
943 N Oxford Ave is a collection of meticulously designed modern townhomes that are the definition of luxury apartment living in Los Angeles. Situated just south of Santa Monica Boulevard, this new construction architectural gem is close to charming cafes, trendsetting restaurants and lively nightlife options along Hollywood and Sunset Boulevard. Developed to exceed the needs of high-income young professionals, these condo-quality townhomes include a private rooftop deck with unobstructed views of the Hollywood Hills and city, cutting-edge smart home technology, high-end stainless steel appliances, and so much more.
Price
$
9,400,000
City
East Hollywood
Current Cap Rate
N/A
%
Price P/ Unit
$
854,545
Lot Size
17,161
SF
Background
The Oxford Eleven is a newly-constructed collection of meticulously designed modern townhomes that define luxury apartment living in Los Angeles. This newly constructed trophy asset was previously listed with another agent and received zero offers. With our expertise and track record, the Sellers turned to Kenny Stevens Team to get the job done.
Challenge
We marketed the property before the lease-up, and potential investors questioned whether they could achieve the projected rents. We targeted marketing towards a “needle in a haystack” 1031 exchange buyer who would appreciate the unparalleled quality of construction. We toured over ten qualified buyers by emphasizing property visits and generating a competitive bidding environment.
Result
Within one month of listing the property, we generated multiple offers and got this new construction trophy property into escrow. The Sellers were ecstatic to accept an offer at $9.4M (95% of the listed price) before the lease-up, and escrow closed 60 days later! Closing at $854,000 per unit, the sale of The Oxford Eleven sets a new East Hollywood sales record.
