About The Property

Stats

Price $2,950,000

Year Built 1933

City West Los Angeles

Units 10

Price p/ Sq. ft. $606

Price P/ Unit $295,000

Background

This value-add ten unit property is located in a premier West Los Angeles pocket, minutes from Brentwood,  Westwood and Santa Monica. After owning this property for nearly two decades and being hassled by property management issues, the Seller brought Kenny Stevens Team onto the listing to help him get the job done.

Challenge

Despite the significant financial upside and proximity to a large-scale transit development (Metro Purple Line), potential investors felt the price per unit was steep due to low rents and length of tenancy for a majority of the units.

Result

After marketing the property for one month, Kenny generated 4 offers and identified a well-qualified buyer who saw the long-term upside in the property. Escrow open in late October and closed 45 days later at $2.95M. Ultimately, the Seller was relieved to finally get the deal closed, having minimal success prior to bringing on KST’s multifamily expertise. 

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)

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