This Los Angeles 26-unit apartment building is located a short walk from the University of Southern California, L.A. Live and Banc of California Stadium. The owner was looking to offload the real estate and cash out after owning the building for seven years. They were looking for a smooth transaction with a buyer that had experience. The Matthews™ agent was presented with the opportunity to find an ideal buyer for the property.
This deal fell perfectly into place, thanks in part to the relationships the Matthews™ agent previously had. A 1031 Exchange buyer, represented by the Matthews™ agent, was looking to exchange from their 10-unit property in an inferior location into a property with more units and a better location. Initially, the agent had shown the buyer a few other deals on the market, but after a quick tour of 1984 Park Grove Ave, they agreed this was the perfect property. That same day, the agent called the seller and pitched the buyer, thereby adding credibility that the buyer would perform.
Thanks to the diligence and relationship of the agent, little challenges took place with this deal. The buyer was about to obtain a property that fit their exchange requirements, and the seller accomplished their goal of cashing out and selling at market value.
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