$3.45M
400 Landfair Ave, Los Angeles
Sale Price
$3.45M
Units
6
Price/Unit
$575,000
Type
Apartment Building
Closed
June 2021
Westwood Village | 6 Units | Above List | All Cash
our second sale this year in Westwood Village with this 6 unit property located at 400 Landfair Ave, Los Angeles, CA 90024. This excellently located property is directly across the street from UCLA campus, and it is comprised of mostly UCLA tenants.
This was the first time that this property has ever been sold. The seller's grandfather built the property in 1942, and it has been passed down through the family until now.
This property was listed by a residential agent who does not sell commercial sized apartment buildings often. Since we only sell apartment buildings, we were able to quickly source the perfect buyer for this property with our unmatched database of multifamily buyers in Los Angeles. We brought the seller an offer within 24 hours of the property being listed. The offer was $55,000 over list price, all cash, with a very short due diligence period and quick close. Our buyer performed perfectly per the contract, without any credits or price reductions during escrow, despite the fact that there is a good amount of deferred maintenance that the buyer will now have to fix post-close.
For more information about this closing, or to receive a complimentary pricing and/or 1031 exchange analysis on your apartment building, please give Aida a call today!
Closing