10345 Pinyon Ave, Tujunga

the successful closing of escrow for a seven-unit multifamily investment property located at 10345 Pinyon Ave. in Tujunga, CA.

Our relationship with this Seller began five years ago, when her idea of a sale was initially entertained. The owner, who was at a different juncture in her life, contemplated divesting from apartment management due to the long distance between her home and the property, and the natural progression of time. Although our pitch was well-received, she decided that she wasn't yet prepared to proceed at that time. However, our initial connection and extensive

After reassessing the property’s value and articulating the importance of pricing the property at a price that aligns with current market conditions, we agreed upon a list price of $1,350,000. We felt that this price, coupled with our multi-channeled marketing campaign, would effectively generate a competitive bidding war amongst the buyer pool.

Within two weeks of launching, we were able to attract five full price offers from highly qualified investors.

From there, we as a team brainstormed with the seller different strategies we could deploy that would not only enable us to identify the strongest buyer of the bunch, but more importantly that gave the seller the best ability to control the terms of the contract once we reached an agreement on price. We ultimately decided to showcase four of the seven units and invited all interested parties to tour those interiors. At the tour, we came prepared with print outs that outlined the “Sellers Preferred Terms” and handed each party a copy of these upon their arrival and instructed each of them to re-submit their best and final offers within 48 hours following the walkthrough.

As a result, four out of the five best and final offers we received were fully non-contingent, which we feel speaks to the bidding environment we were able to create through our strategic approach that began at the listing table.

Ultimately, the seller chose a fully non-contingent offer, just $25,000 below the list price. The eventual winning offer was all cash, with just a short 20-day closing period, which proved to be the two ingredients that elevated that offer to the top of the stack.

If you have interest in a free evaluation, or have any questions about anything CRE-related, don’t hesitate to give us a call or send us an email, we’d love to work with you.