About The Property

Stats

Price $9,400,000

Year Built 2021

City East Hollywood

Sq. ft. 23,763 SF

Units 11

Proforma CAP 5.10%

Price p/ Sq. ft. $396

Price P/ Unit $854,545

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.

“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)

I chose to hire Kenny over the other agents because of his dedication and persistence over the years, as well as his keeping me abreast of current market trends.  I was extremely happy with the price he got us, and over all I would say his team performed brilliantly.

- 431 Marine St. (Seller)

Kenny has shown me his extensive knowledge on the different neighborhoods and movements of the market. He was quickly responsive to any of my client’s needs and brought a sense of togetherness when creating our deals is like no other broker could. After working with the team, I now feel more than comfortable recommending the Kenny Stevens Team to anyone I know.

- Dianne Park (Attorney)

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