Case Study: Highlighting a Transaction at 7248 Alabama Ave

Challenges in Canoga Park

An issue arose from an incorrect structuring of the ownership’s trust, causing a necessary court appointment and a delay in escrow. The court signed off on the corrections in advance of the rate lock expiration, and the agent was able to get the property traded. The sellers in this case were private clients. A well-known buyer in the industry, with a large multifamily portfolio in Southern California, aided in this transaction.

 

The Outcome

In order to create a successful result, the team noted consistent communication with all parties, as well as taking point on all aspects of the deal to facilitate the closing. There was contact with the Matthews™ sales operations, marketing, and legal teams to finish the transaction. The end result was selling the 12-unit property for $227,000 per door, and $279.20 per square foot.