SUCCESS STORY
Most South LA Sales in Past 15 Months
964 E Jefferson Blvd.
This sale was a succesul referral and marks Max Berger's 9th South LA transaction in the previous 15 months - the most in that period.
Price
$
950,000
City
South Los Angeles
Current Cap Rate
N/A
%
Price P/ Unit
$
950,000
Lot Size
8,950
SF
964 e jefferson
About the Property
964 Jefferson Blvd was an 8,950 corner lot zoned C2 with the potential to build 35 units with TOC Tier 1 incentives. Located 2 miles east of the University of Southern California, existing improvements include a single-story 2,109 building that currently operates as a church. According to a development potential report by BrickWork, a developer can develop 11 units by-right or 35 units by taking advantage of Transit Oriented Communities Tier 1 incentives.
Price
$
950,000
City
South Los Angeles
Current Cap Rate
N/A
%
Price P/ Unit
$
950,000
Lot Size
8,950
SF
Background
Experiencing a personal emergency, and the sole tenant expected to move, the Seller approached a Compass residential agent for a commercial referral. Having seen KST speak at a local sales meeting, John Cabeso, a Highland Park Compass agent, referred KST to the owner to help her cash out and donate the proceeds.
Result
Despite language barriers, a large amount of deferred maintenance, and development questions, our team generated 4 offers throughout the listing. Ultimately, the Seller was relieved to select an offer that closed in 60 days at $950,000. This sale marks Max's 9th closed transaction in South LA in the last 15 months… THE MOST IN THAT PERIOD; and our team’s 8th successful referral (from a Compass agent) in the last 12 months.
