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.

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

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.
