2 LA Multi Family Sold 6 Times

2 LA Multi Family Sold 6 Times

Same Two Multi-Family Properties Sold 3 Times Each Over 10 Years

 

Over the course of 10 years, Wolf Baschung, CCIM, CPM,  represented four different owners in the acquisitions and dispositions of the properties pictured below and sold the properties a total of six times. The total combined property value increase across these sales was 179%. The acquisition and hold strategies differed from owner to owner, as well as particulars of the properties over time, and market dynamics (for additional details read on below).

Sold 2005: $  800,000

Sold 2006: $1,350,000

Sold 2015:  $1,800,000

Sold 2005: $1,380,000

Sold 2010: $1,215,000

Sold 2014: $2,075,000

745 S Detroit Ave, Los Angeles, CA 90036

3337 S Durango Ave, Los Angeles, CA 90034

Beyond the success of multiple sales representing successive owners of the same property, the LA multi family asset pictured above demonstrates the multifaceted benefits of working with MW Real Estate Group’s Full service, integrated real estate solutions for investment property owners.

  • The side by side before and after photos of the first purchase and property remodel are a nice example of MW managed property restauration.
  • The purchase of the property was done was through an MW orchestrated 1031 IRC Tax Deferred Improvement Exchange. This means that part of the relinquished property sales proceeds were used to remodel this 1031 Exchange replacement property, all within the framework of a successful 1031 Exchange.
  • Thus, MW Real Team Brokerage managed the purchase for the owner, then MW Real Estate oversaw the entire restauration. When it was complete MW leased up the property and managed the asset, then sold it for a significant return on investment.

This 9 unit LA multi family property in the Palms area of West Los Angeles is another example of MW’s comprehensive services. In this case the first purchase in the series served helped the buyer with a replacement property for a 1031 Exchange with significant equity sales proceeds.

The early 2010 sale was premature and at the bottom of the market. The owner, however, felt obligated to sell at that time for personal reasons. MW oversaw that sale and then the next one, for a massive profit, after the recovery took the market to new heights in 2014.

The last sale was among the top three highest price paid in Palms in 2014. In this case MW was able to manage a competitive sales process to maximize the seller’s strike price well over established market pricing. The property was sold to a Japanese group with depreciation accounting benefits that carried over to Japan and made it possible to justify a price no US buyer could warrant. By cooperating closely with the buyer’s trusted agent, MW was able to secure an aggressive offer and quickly close the deal all cash.