Built in 1953, this well-maintained, two-story building with beautiful center courtyard, sits in a vibrant neighborhood lined with other multifamily buildings and condominiums, and is considered a prime location in one of LA’s hottest entertainment districts. 1265 N Sweetzer is comfortable living for any tenant and offers investors the unique opportunity to own a large property in an incredible location with significant rental upside potential.
About The Property
Stats
Price $5,750,000
Year Built 1953
City West Hollywood
Sq. ft. 18,108
Units 16
Lot Size 16,741
Background
Challenge
Having just entered into escrow for a property located in Texas, the Sellers saw the perfect opportunity to trade a difficult to manage 31-unit asset into something easier to manage with higher cash flow.
Result
This off-market property listed by a residential agent in our office was the first deal we closed with a Compass agent since moving over to Compass.
There were about 6 offers on the property despite not being publicly listed on the MLS or Loopnet. Our team’s relationship with the listing agent enables us to secure the deal for out client. We were able to make the best offer–all cash and a 7 day closing after the contingency removal.
Both the Seller and the Buyer were ecstatic over the price, and saw tons of potential value to add in addition to loving the neighborhood.
