About The Property

Stats

Year Built 1958

City Brentwood

Units 8

Current CAP 3.96%

Proforma CAP 5.30%

Background

Located in the heart of a premier Westside rental market, this value-add property featured approx. 23% rental upside and several renovated unit interiors. After opening escrow on her NNN upleg property in the Pacific Northwest, our client contacted us to help complete the exchange on time.

Challenge

We listed the property in early August (while interest rates were around 4.75%), and investors were watching from the sidelines. With several weeks left on the seller’s exchange, Kenny had to identify an all-cash exchange buyer who could close quickly.

Result

Kenny identified an exchange buyer who submitted an all-cash non-contingent offer as the deadline approached. Ultimately, the deal closed seven days later at $3,100,000; all parties were relieved that KST could get the deal done in such a volatile market. The seller was satisfied with her completed 1031 exchange, and the buyer is eager to begin renovations on a hidden gem in the heart of Brentwood.

Speaking for myself and everyone involved, you were absolutely the best broker we could have selected to market our portfolio. You found an incredible buyer and were able to guide us through so many challenges, including a global pandemic, and secured us a price beyond our expectations.

- Seller (60 Units by The Grove)

“I cannot say enough great things about KST. They take care of you, they have the connections needed, and they get the job done! We were amazed at how quickly our sale went through during the COVID pandemic.”

- Seller (4 Units in Beverly Grove)

“It was truly a pleasure working with Kenny. He is professional, honest, hardworking and most importantly did what he said he would. Kenny sold the property at list price in less than 60 days from start to finish.”

- Seller (Beachfront Generational Asset in Playa del Rey)

Next Success Story.

1116 N. Spaulding Avenue, West Hollywood
Price Paid: $3,200,000
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