Updated: Apr 13, 2021
2338 W. 20th Street, Los Angeles, CA 90018
The SK Group of Marcus & Millichap is proud the share another successful closing of a 7-unit building, located in the Harvard Heights neighborhood of Los Angeles at 2338 W 20th Street.
The property is fully occupied and is comprised of (5) 1 bedroom/1 bathroom and (2) 2 bedroom/1 bathroom units that gross $76,308 per year. The property was originally listed for $1,800,000 and had been on the market for over 100 days. Although the property was listed with another firm, our team did have a prior, long-standing relationship with the Seller. Aside from being aggressively priced, we knew that the Seller wasn’t going to be able to provide many of the important documents needed to conduct due diligence, which would create many obstacles and hesitation for the average buyer. Our team believed that with the right Buyer, who could handle these problems, we could get the Seller to meet the market and finally sell the asset. After running our own analysis on the property, we pitched it to a Buyer that we have closed multiple transactions with. As a result of strategic, well-thought-out negotiations and presentations of comparable properties, our team was able to assist our Buyer in purchasing this asset for $600,000 less than asking, all cash and in less than 30 days
Closed $600,000 Below Asking Price
30 Day Escrow