CLOSING ANNOUNCEMENT: 4848 Lexington Ave, East Hollywood
• Assisted our client in preparing for the shifting market in California by providing a broker’s opinion of value with the most realistic pricing strategy to get the property sold in the current market.
• Launched our 14-point marketing plan during the height of the pandemic, with uncertainty and possibility of coming changes in local multifamily legislation and the presidential election.
• Safely conducted in-person tours for vacant units and helped the inspector and appraiser to get inside multiple units in an efficient manner to ensure the success of the transaction.
• Conducted approximately 15 property tours which resulted in 8 offers that we vetted with strategic questions to make a recommendation to choose a buyer that we deemed as was most certain to close with no retrades.
• Guided the seller and management company throughout the escrow process by providing clear information and communication to the buyer regarding collections and vacancies.
• Represented both the buyer and seller; closed escrow on time achieving $196,667 per unit.