12 Dec 2017
LOS ANGELES, CA—Matthews Real Estate Investment Services™, the nation’s fastest growing real estate investment firm, has announced the sale of 4540 Hazeltine Ave, a 23-unit apartment property located in Sherman Oaks, CA. The asset sold for $7,750,000 which represented approximately $354 per square foot.
Daniel Withers, Senior Vice President for Multifamily at Matthews™, secured and represented the buyer, 6910 Kester, LP who was looking to satisfy a 1031 exchange. Matthews™ formed a relationship with 6910 Kester, LP after exclusively listing the clients’ previous property, 20135 Keswick St, Winnetka, CA 91306.
Matthews™ secured the seller, Frog Rock Investments, LLC , through a prior established relationship. The property closed with a 60-day escrow and a quick due diligence period.
“The Hazeltine opportunity is a well-located asset, with a great unit mix and amenities, and is a great complement for my client’s current portfolio,” said Daniel Withers
Built in 1951, the 23-unit apartment building has an attractive mix of one, two and three bedroom units. The property is also located in a prime market, near numerous shopping, dining, and entertainment options, and offers quick access to the main Southern California freeways.
For more information regarding the sale of 4540 Hazeltine Ave or if you have any questions relating to your multifamily investment(s), please do not hesitate to reach out to Daniel Withers for more information.
About Matthews Real Estate Investment Services:
MATTHEWS REAL ESTATE INVESTMENT SERVICES™ is recognized as an industry leader in multifamily, shopping center, STNL, management, leasing, portfolio disposition and 1031 exchange programs. The firm is headquartered in El Segundo, CA and serves clients throughout the United States and Canada. For more information, please visit WWW.MATTHEWS.COM.
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