VALLEY VILLAGE, CA 91607 | 16 UNITS | APPROX 12,700 SF | MULTIFAMILY SALE TRANSACTION | SAN FERNANDO VALLEY SUBMARKET
Overview
12125 Weddington Street is a classic mid-century apartment community located in one of the San Fernando Valley’s most dynamic communities. The ownership hired The Apartment Expert Group at KW Commercial after 3 previous unsuccessful attempts to liquidate the asset with 3 other seasoned brokers. The ownership engaged The Apartment Expert Group to reevaluate the asset’s income fundamentals to determine an appropriate offering price for the changing market.
Results
The Apartment Expert Group’s strategic and comprehensive marketing campaign generated 8 qualified and competing offers within a short period. The Apartment Expert Group’s marketing campaign reached every conceivable potential buyer through his comprehensive exhaustive personal database of principals, direct presentations, a strategic cold calling campaign, warm calls to key owners in the area, hard copy mailers and e-mail blasts. We fielded hundreds of inquiries from potential buyers and agents and carefully toured buyers through the property as required.
Value Added
The Apartment Expert Group negotiated a very precise and exacting purchase agreement between Buyer and Seller that allowed for a very short due diligence period. Loan contingencies were handled expeditiously and specific language was drafted into the agreement to negate a potential low appraisal. Overall, The Apartment Expert Group successfully negotiated another closed transaction when 3 previous seasoned brokers could not.