Los Angeles, CA – Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate firm, successfully brokered the sale of 14041-14047 Moorpark St for $5.45M. in Sherman Oaks, CA. Associate, Adam Feldman, Senior Associate, John Boyett, and Senior Vice President & Senior Director, Daniel Withers, arranged the transaction.
The 14,584 square foot property includes two separate 9-unit buildings. The previous owner had completed a soft story retrofit and renovated over half of the units in the building. At close, there were three vacant units with approximately 25% upside in rents which provided a strong value-add opportunity for the buyer.
“Our deal team consisting of myself, John Boyett and, Daniel Withers, was able to facilitate a smooth process from start to finish,” said Adam Feldman. “Being part of a team allowed us to divide up responsibilities and ensure that everything was taken care of diligently and efficiently.”
The seller in the transaction was a private family office who was slightly entertaining the thought of selling. Matthews™ agents were able to bring a strong offer from a top buyer in the marketplace. The buyer was actively looking to acquire property in prime San Fernando Valley markets.
“You rarely see assets like this trade hands in the Sherman Oaks marketplace. The value we brought to this deal was our in-depth understanding of San Fernando Valley, knowing what realistic pricing is for the property, for rents, and who the top players in the marketplace are,” said John Boyett “Thanks to our well-established relationships, we were able to bring the top buyer to the table at the highest price, to satisfy our client.”
For more information regarding the sale of 14041-14047 Moorpark St. or if you have any other questions related to multifamily investment sales, please do not hesitate to reach out to Adam Feldman, John Boyett, and Daniel Withers. To view current listings, please visit www.matthews.com.
Matthews Real Estate Investments Services™, the nation’s fastest-growing commercial real estate brokerage firm, holds recognition as an industry leader in investment sales and leasing. Founded in El Segundo, CA, and strategically positioned with over 300 agents and support staff in over 10 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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