LOS ANGELES, CA 90026 | 40 UNITS | APPROX 20,190 SF | MULTIFAMILY SALE TRANSACTION | LOS ANGELES SUBMARKET
Overview
3800 Clinton Street is a fully renovated and performing apartment community located in a transitioning location adjacent to Hollywood and Downtown submarkets and within close proximity to major area attractions. The property was completely renovated in 2009 and 2010. Each interior had been dramatically and stylishly upgraded along with the exterior of the property and the building systems. The ownership, a mid-sized real estate investment group owns over 10 similar properties was aware of The Apartment Expert Group’s excellent reputation. The owner interviewed The Apartment Expert Group and several other area apartment brokers to determine who would be awarded the opportunity to list and sell the asset. The Apartment Expert Group was awarded the assignment because of his market expertise and his highly focused approach. The Apartment Expert Group strategically positioned the performing asset to highlight its dramatic upgrades and improvements through his industry leading strategic and comprehensive marketing approach.
Results
As a result of The Apartment Expert Group’s vast investor relationships, every conceivable qualified buyer in the market was presented the offering. The Apartment Expert Group fielded hundreds of inquiries from potential buyers and quickly received 8 qualified and competing offers. The Apartment Expert Group quickly negotiated NON-CONTINGENT, BEST AND FINAL counter offers to each buyer.
Value Added
Because of The Apartment Expert Group’s transactional and negotiating expertise, the BEST AND FINAL approach resulted in a sale price $25,000 OVER THE LIST PRICE with NO CONTINGENCIES. All the details of the transaction were personally handled by The Apartment Expert Group, thus ensuring a seamless transaction and an early close of escrow. Because of The Apartment Expert Group’s experience and abilities, he was able to obtain a value for the property that exceeded the seller’s expectations and captured the highest end of the market.