After being well-maintained, owned, and operated by the same owner for 24 years, the elegant and spacious 48-unit apartment building of 520 South Mariposa Avenue sits in the heart of Koreatown in Los Angeles. Located in a Qualified Opportunity Zone, the property allows for generous tax break implications. The property offers sustainable investment grade upside for investors looking to own in a dense and continuously growing rental market.
Thanks to the Matthews™ proprietary database and industry-leading marketing, the Matthews™ specialized agents positioned the apartment property as an opportunity to achieve healthy cash flow and a 30 percent rental upside. This upside can be seen by the tremendous marketable location, thus generated competition for the property, with buyers coming in with their highest offers.
Before Matthews™ marketed the property, the client received an offer $700k below the final sale price. The client achieved increase income by $300k and eliminated all management responsibility. The buyer exchanged out of three triple net lease properties and will achieve a healthy sum of wealth accumulation through asset appreciation.