04 Aug 2017
Matthews Real Estate Investment Services™ has arranged the sale of a six-unit multi-family building for $1,500,000 in Lawndale, CA. The transaction was led by Daniel Shieh, Investment Sales Associate, who represented the seller in a 1031 exchange. Daniel sourced a foreign buyer through Matthews’ innovative digital marketing platform and negotiated an extended escrow period for the seller, affording them ample time to identify an ideal exchange property.
The asset located at 4705 W. 173rd St. set a price-per-foot record for an apartment building in the city of Lawndale. The property sold for $389 per square-foot, surpassing the previous record of $309 per square-foot by 26 percent.
Both buyer and seller were pleased with the transaction. The buyer invested in their wealth preservation and the seller obtained a record breaking price for his property. This deal successfully allowed the seller to find an exchange property with greater appreciation and value-add opportunity.
About Matthews Real Estate Investment Services:
MATTHEWS REAL ESTATE INVESTMENT SERVICES™ is recognized as an industry leader in shopping center, STNL, Multifamily, Management, 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.